LPF’s AUM grew 10% between January and November
30 December 2013
News, Asia, Taiwan
By Asia Asset Management
Boosted by the rally in the local stock market, Taiwan’s Labor Pension Fund’s (LPF) total AUM rose 10% for the first eleven months this year to NT$1.65 trillion (US$55 billion) as of November 30.
Labor Pension Fund Supervisory Committee (LPFSC) said in its monthly report that the pension fund realised total revenues of NT$79 billion up to the end of November, representing an investment return of 5.11%. Total AUM of its defined contribution New Scheme and defined benefit Old Scheme was NT$1.054 trillion and NT$597.2 billion, respectively.
With the improving global and domestic economies, the committee said it will keep a sharp eye on market conditions and regularly re-adjust its investment strategies to generate stable returns for retirement scheme members.
In terms of the outsourced mandates’ performances, the US$1 billion global low volatility equity mandates of the New Scheme outsourced to BlackRock and State Street Global Advisors (SSgA) in April this year recorded accumulated returns of 1.76% outperforming its benchmark index return of 1.69%.
LPFSC recently put up a slew of new mandates such as global real estate securities and global infrastructure securities for tender; even so, a number of mandates have yet to be fully funded, and they include mandates for global high dividend yield and global credit.
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