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Taiwan’s LIF hands out US$450 million in mandates

31 October 2012

Category: News, Asia, Taiwan
By Asia Asset Management

Taiwan’s Bureau of Labor Insurance announced on Tuesday (October 30) that the Labor Insurance Fund (LIF) had dished out US$450 million worth of its global emerging market debt mandate to three asset managers: Stone Harbor Investment Partners, BlueBay Asset Management, and Templeton Asset Management. Each received $150 million.

The duration of the appointment is five years. The JPMorgan GBI-EM Global Diversified, Investment Grade Index is being used as the benchmark for the mandate.

LIF initially outsourced $350 million of assets to foreign managers in November 2009. These assets had recorded accumulated returns of 26.94%, to $444.38 million, as of the end of September.

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