STIC Investments leads manager league as Korean lifers pile into private markets
STIC Investments topped MandateWire’s manager league table in September as Korean life insurance companies hired the manager to look after their private market exposures. Meanwhile, KT Investments attracted the highest net inflows from the asset owners MandateWire tracked during the month
STIC Investments won four mandates from South Korean life insurers and pension funds that looked to increase their allocations to private markets.
Hanwha Life Insurance, with Won114tn ($82bn) in investable assets, was responsible for STIC Investments' largest win worth $75.6mn. It appointed the manager to look after domestic private debt for an initial mandate period of four years, with an option for a three-year extension.
Thanks to these four mandate awards, STIC Investments attracted the second highest net inflows* in September, according to MandateWire data. The top spot went to KT Investments, which pulled in a net $393.2mn as Korean Teachers' Credit Union, with Won64tn in investable assets, selected the manager for a domestic property mandate.
An official from the credit union told MandateWire that KT Investments had shown "an excellent dividend performance of about 6.5 per cent in all its real estate investment trust funds and is a family company of KT Group, the leading telecommunication and ICT group in Korea, which supported our decision to award the mandate".
