The Taiwanese state pension fund is inviting fund houses to submit proposals for two major five-year global mandates, as it looks to raise alternatives and rotate out poor performers.
The $124 billion Taiwanese state pension fund plans to ramp up its exposures in Europe and Japan on the back of a set of encouraging signs of reform in both regions.
The $125 billion state fund is seeking managers for 15 mandates for its first overseas absolute-return equity portfolios, as it seeks to counter expected volatility in global markets.
The $126 billion state pension fund will hand out the new overseas-focused mandate in mid-November, amid rising volatility in global markets.
The Bureau of Labor Funds is not satisfied with BNY Mellon's performance on behalf of the National Pension Insurance Fund's overseas portfolio, says a source familiar with the matter.
Huang Chao-hsi, who left Taiwan's Bureau of Labor Funds on January 13, wants to see its foreign allocation limits removed and more money available for hiring investment staff.