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.