NCSSF issues first global mandates in four years

China’s $240 billion National Council for Social Security Fund (NCSSF) has awarded its first batch of overseas mandates in more than four years. The manager of the National Social Security Fund has dished out four mandates overall to US-based Vanguard, French house Amundi and the Hong Kong subsidiaries of DaCheng Fund Management and China Universal Asset Management. Vanguard and Amundi both won passive mandates for exchange traded funds and indices, although NCSSF didn’t disclos…