Taiwan’s PSPF names and shames underperforming managers
16 October 2012
News, Asia, Taiwan
By Asia Asset Management
Taiwan’s Public Service Pension Fund (PSPF) has unveiled a list of outsourced domestic fund managers that underperformed their benchmark indexes between November 30, 2010 and September 30, 2012.
Among them, fund managers from Fuh Hwa, Jih Sun, Fubon, and Capital, which were granted mandates in November 2010, suffered accumulated losses of 10.1%, 10.76%, 10.88% and 12.25%, respectively. This compared to a decline of 7.18% in the Taiwan Capitalisation Weight Stock Index (TCWSI) over the same period.
Up to the end of July, external domestic fund managers were overseeing NT$202.5 billion (US$6.75 billion) worth of assets for PSPF, which represented 42% of its total AUM.
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