NPS invites bids for new custodian mandates

Korea’s National Pension Service has started reviewing its existing list of domestic and global custodians after recently appointing a new chairman and CEO, who is expected to pursue a more aggressive allocation plan globally. The $360 billion retirement fund will post request-for-proposals on its website from late July to early August, inviting custodians to bid for mandates across a variety of asset classes, including domestic equities, fixed income, alternatives and fund admini…