Taiwan’s BLI announces gain on Labor Insurance Fund
29 November 2012
By Hui Ching-hoo
Taiwan’s Bureau of Labor Insurance (BLI) announced on Monday (November 26) that the Labor Insurance Fund (LIF) recorded an accumulated return on total AUM of 4.35%, taking the figure to NT$534.7 billion (US$17.8 billion) as of the end of October.
Domestic equities accounted for the largest proportion of the pension fund’s investments at 26.4%, while, 30.45% of the asset classes were outsourced to external fund managers.
The NT$10 billion domestic equities mandate LIF awarded to ING and SinoPac on July 2 reported accumulated returns of 1.82%, topping the Taiwan benchmark index which declined 2.26%% during the period.
Another batch of NT$8 billion domestic equities mandates that the pension fund outsourced to Cathay and ING in 2010 August recorded accumulated returns of 0.33%, against a loss of 9.11% for the Taiwan stock market.
ING and SinoPac were awarded NT$6 billion and NT$4 billion in additional funding for their domestic equities mandates on July 2. The funds delivered accumulated returns of 0.81% and 3.33%, respectively.
Meanwhile, LIF placed 48.48% of its assets overseas. Of these, 60% and 30% were allocated to fixed income assets and equities, respectively.
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