Japan’s life insurers are bailing out of foreign bonds at a record pace; Taiwan's Public Service Pension Fund sees ten months of consecutive losses; Korea Investment Corporation has made its first direct investment in an asset management firm; and more.
Korean Teachers’ Credit Union has signed a second real estate partnership agreement with a Californian counterpart; Singapore’s sovereign wealth fund backs third fund in series focused on Australian logistics assets; the investment firm that manages part of Alibaba co-founder's fortune is retreating from US stocks as it increasingly focuses on private markets.
The first batch of pension providers, including China Life, will join Hong Kong’s MPF’s new electronic platform next year; Ontario Teachers' Pension acquires majority stake in private hospital chain in India; head of Korea's sovereign wealth fund's investment strategy and innovation division is named its new chief investment officer; and more.
AustralianSuper will double its staff in London and grow New York office to 80; Taiwan's Public Service Pension Fund to put great emphasis on ESG in manager selection; GPIF publishes list of companies with "excellent TCFD disclosures"; Nippon Life Insurance sets 2030 interim targets for greenhouse gas emission reduction in the investment portfolio; and more.
Taiwan's largest pension is taking a conservative approach in the current Covid climate, announcing fewer new mandates and potentially delaying renewals to maturing ones.
Tsai Ing-wen, who was re-elected to a second presidential term last weekend, should take the bull by the horns and further improve the island's pension system over the next four years.
The pension fund intends to split the domestic portfolio between four asset managers. It explained to AsianInvestor why it is employing an absolute-return strategy to do so.
The proposed lengthening of its external mandates will make it easier to invest in private equity. The Taiwan pension fund isn't raring to take advantage though.
The domestic portfolio will be split among six managers and issued early next year now that valuations are below their historical averages. Timings will be dictated by global conditions.
The $19 billion Public Service Pension Fund has invited pitches for its first global total-return fixed-income mandates. Four managers will each get $200 million.
The Taiwan pension fund is not planning to use currency derivatives to counter US dollar volatility, despite some of its board advisers suggesting it should do so.
The Bureau of Labor Funds has invited bids for $2.4 billion in domestic mandates, while the Public Service Pension Fund has handed $600 million to three foreign asset managers.