Taiwan’s PSPF appoints five domestic managers
07 June 2013
News, Global, Taiwan
By Hui Ching-hoo
Taiwan’s Public Service Pension Fund (PSPF) has outsourced NT$25 billion (US$830 million) worth of domestic equity (relative return) mandates to five local managers; Allianz Global Investors, HSBC Global Asset Management (Taiwan), President, Schroders, and Prudential.
The PSPF said on its website on Saturday (June 1) that each external manager will be awarded a NT$50 million quota. The appointments all have four-year durations.
The PSPF’s advisory committee noted that the outsourcing is intended to achieve multiple objectives; reducing risk, improving efficiency, and strengthening investment returns. The PSPF has appointed First Commercial Bank as custodian for the appointments.
Up to the end of April, the PSPF had total AUM of NT$532.6 billion.
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