PSPF’s revenues hit four-year high in Q1

28 April 2014   Category: News, Asia, Global, Taiwan   By Hui Ching-hoo

Taiwan’s Public Service Pension Fund (PSPF) bucked the bearish market sentiment to rack up revenues of NT$11.1 billion (US$370 million) for the first quarter this year, translating into an annualised return of 8.2%.

Hit by a backlash from the demonstration over Taiwan’s trade pact with China, the island’s stock market plummeted as much as 154 points in mid-March, wiping out market valuation of around NT$533.7 billion, according to the Commercial Times.

However, the Ministry of Civil Service reported that the PSPF has managed to stave off unfavourable global and domestic market conditions since last year. The fund realised a four-year high in revenues last year of NT$42.7 billion, taking its total AUM to an all-time high of NT$562.4 billion as of the end of 2013.

The stellar performance has carried through to 2014. The fund secured monthly revenues of NT$4.84 billion and NT$6 billion in February and March, respectively. Its investment return for the first quarter is significantly better than the fund’s stipulated guaranteed return of 1.4%.