Taiwan government funds achieve NT$91 billion for first nine months
25 October 2013
News, Asia, Taiwan
By Asia Asset Management
The aggregate monthly revenue of Taiwan’s three largest pension funds, the Labor Pension Fund (LPF), the Labor Insurance Fund (LIF), and the Public Service Pension Fund (PSPF), hit its third highest monthly level this year, at around NT$29.2 billion (US$993 million) in September, after the US Fed pushed back QE tapering.
Despite fund revenues dipping into the red in June and August, the improving global economy brought accumulated returns of NT$91 billion for the first three quarters of the year.
An official from the Bureau of Labor Insurance (BLI) told local media that the LPF recorded revenues of NT$51.9 billion for the first nine months, translating into an annualised return of 3.39%. The official expects the accumulated revenues to vault the NT$60 billion-mark in October thanks to the ongoing market recovery.
The PSPF outperformed the other two funds between January and September with annualised growth of 4.1%, representing accumulated revenue of NT$20.9 billion.
More News >