Taiwan hires 7 managers for fund mandates

Added 31st March 2016

The new managers are appointed for a total of $5.3bn in global multi-asset and Asia-Pacific mixed-equities investment for the new and old Labor Pension Fund, the Labor Insurance Fund and the National Pension Insurance Fund, Ignites Asia reported, citing Taiwan’s Bureau of Labor Funds.

Taiwan hires 7 managers for fund mandates

BlackRock, Northern Trust and Vanguard were selected for the Asia-Pacific mixed-equities mandate for a total of $2.1bn, the island’s bureau said in a statement. Each of the managers is outsourced $500m from the new Labor Pension Fund, $100m from the Labor Insurance Fund and $100m from the National Pension Insurance Fund.

Allianz Global Investors, J.P. Morgan Asset Management, Deutsche Asset Management and PineBridge Investments were appointed for the global multi-asset mandate, for a total of $3.2bn. Each manager will be outsourced with $450m for the new Labor Pension Fund, $150m for the old Labor Pension Fund and $200m for the Labor Insurance Fund.

As of the end of January, the Bureau of Labor Funds had NT$3 trln ($93bn) in assets.

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