SEMA picks Aberdeen as SMA manager

The South Korean public pension fund appointed its first separate account manager.

Korea Scientists & Engineers Mutual-aid Association (SEMA) named Aberdeen Standard Investments as its separately managed account (SMA) manager that will be charged with around $120 million global multi-asset strategy in the next five years.

The appointment is the result of the request for proposal (RFP) for the multi-asset SMA mandate that SEMA put out last October.

Newton Asset Management, a subsidiary of BNY Mellon Management Group, was the second most-preferred candidate.

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