Taiwan’s Bureau of Labor Funds (BLF) has chosen four international asset managers for a US$1.6 billion global sustainable securitised real estate mandate that was tendered out almost four months ago.
The winning bidders are BlackRock Investment Management (UK) Bermuda-based Fidelity International, and two US investment firms CenterSquare Investment Management and RREEF America.
BLF announced the tender results on its website on January 22. The tender was opened on October 1.
Given the fast-changing financial market environment, the pension fund supervisor says it’s focused on diversifying risk and enhancing returns by outsourcing investments to international asset managers with different styles of investment.
“BLF will keep an eye on domestic and international market trends. It will increase funding for its domestic and global mandates on a timely basis.”
BLF oversees eight pension and annuity funds with NT$7.6 trillion ($232 billion) of combined assets as of November 2024.
