The Bureau of Labor Insurance names MFS, BlackRock and Amundi to manage $200 million each. They were selected on the strength of their developed market expertise.
Taiwan’s Bureau of Labour Insurance has narrowed its search for a $600 million mandate to eight fund houses, say sources. It will be its first mandate in nearly five years.
Taiwan's Bureau of Labor Insurance issues its largest ever batch of global equity mandates, which will boost its overseas equity investments by almost a third.
The Bureau of Labour Insurance continues to outsource its overseas investments with three new mandates totalling $600 million.
The Bureau of Labour Insurance resets the way it approaches investments in order to resolve its current crisis in funding gaps and cashflow issues.
Three $200 million mandates are up for grabs. The portfolios will be benchmarked to the Barclays Capital Global Aggregate index.
Assets have halved since the beginning of the year, prompting the fund to assure participants that the Taiwan government will foot the bill for the asset shortfall.
The government has decided to allow pension funds to invest up to 35% of assets overseas.
Taiwan's Labour Insurance Fund has hand-picked 30 managers to make formal pitches for offshore mandates.
The Taiwanese public pension fund will first seek out an investment consultant to help it select fund managers.