Dongbu Insurance Co. Ltd. hired Eaton Vance Management to invest $100 million in taxable U.S. municipal bonds, confirmed a fixed-income executive at Dongbu.
Robert White, the Singapore-based president of Eaton Vance Management International (Asia) Pte., said in an email the allocation was the first from a Korean institutional investor for Eaton Vance’s taxable municipal bond strategy.
The Seoul-based insurer has roughly $25 billion in net assets.
