Taiwan’s LIF hands out US$450 million in mandates
31 October 2012
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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