Franklin Templeton wins Korea pension mandate

South Korea’s $50 billion National Pension System (NPS) has just mandated Franklin Templeton Investment Trust Management (ITM), along with 12 Korean-owned institutions, a two-year contract to invest pension money, according to Michael Reed, country head. Franklin Templeton is the first foreign-owned entity to be entrusted with NPS funds.NPS began outsourcing to third-party fund managers only last year, when it awarded W200 billion ($160 million) among the investment management arms of…