Mirae Asset Global Investments signs MOU with Korea National Open University to upgrade endowment management

Mirae Asset Global Investments announced Thursday it signed a memorandum of understanding with Korea National Open University to strengthen the stable and efficient management of the university's endowment fund and upgrade its asset management framework.

The agreement aims to support more effective operation of the university's endowment and expand education and information exchange in finance and asset management.

The signing ceremony was held at Korea National Open University on Wednesday, with Lee Byung-sung, head of the outsourced chief investment officer division at Mirae Asset Global Investments, and university President Kim Jong-oh attending alongside officials from both institutions.

Under the MOU, the two organizations plan to cooperate across several areas: establishing investment principles and operational guidelines for the systematic and efficient management of the endowment fund; exchanging information and providing education to improve the fund's operational efficiency and expertise; and supporting the development of a strategic asset allocation framework that accounts for medium- and long-term investment goals and risk tolerance.

"Drawing on the OCIO expertise we have built through managing and advising on institutional funds — including the Ministry of Planning and Budget's pension investment pool, the Ministry of Land, Infrastructure and Transport's housing and urban fund, and the endowment of Pohang University of Science and Technology — we plan to actively support the upgrade of the asset management framework at Korea National Open University, a national institution," Lee said. "We will be a trusted partner, providing long-term investment principles to enhance the stability and returns of the university's endowment fund."

Mirae Asset Global Investments ranked first in last year's evaluation for reselection as lead manager of the Ministry of Planning and Budget's pension investment pool, and topped this year's evaluation for selection as dedicated manager of the housing and urban fund.

OCIO is a service through which institutions managing large pools of capital — such as pension funds, public institutions and retirement pension plans — entrust the full scope of asset management, including asset allocation, portfolio construction and risk management, to an external specialist. Mirae Asset Global Investments draws on experience accumulated through managing and advising on a range of institutional funds to support the long-term asset management needs of institutional investors.