Taiwan’s Bureau of Labour Funds (BLF) has chosen four foreign and one local asset management firm for a NT$50 billion (US$1.58 billion) domestic absolute return equity mandate that was tendered out last November.
The firms are the local units of J.P. Morgan Asset Management, Schroder Investment Management, Nomura Asset Management and Allianz Global Investors, and home grown Yuanta Securities Investment Trust Co.
The BLF published the names of the winning bidders on its website on January 8. The tender was opened on November 14.
Each firm will be allocated NT$10 billion, with NT$9 billion managed for the Labour Pension Fund (LPF), Taiwan’s largest defined-contribution pension scheme, and NT$1 billion for the National Pension Insurance.
The BLF oversees eight pension and annuity funds with around NT$8.41 trillion of assets under management as of end-November, including NT$5.1 trillion in the LPF and NT$697.5 billion in the National Pension Insurance.
