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October 2021
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Taiwan’s BLF seeks bids for NT$48 billion corporate social responsibility investment mandate

BLF
By Hui Ching-hoo   
September 21, 2021

Taiwan’s Bureau of Labor Funds (BLF) is looking to hire six local asset managers for a NT$48 billion (US$1.72 billion) corporate social responsibility absolute return domestic investment mandate.

The firms will each be appointed for five years and will manage the investments for the Labor Pension Fund, one of the eight pension and annuity funds supervised by the BLF. The Labor Pension Fund is Taiwan’s largest defined-contribution retirement scheme.

The mandate’s targeted return is 250 basis points above the average dividend yield of Taiwan’s stock market over the past five years, the BLF says in its request for proposal on September 17.

Applicants for the tender must have been established for at least three years with a minimum NT$10 billion of assets under management, and must manage at least one domestic strategy, such as domestic equity or index funds, valued at over NT$500 million.

Applications are open until October 14, with due diligence and evaluation scheduled within 30 working days from the deadline.

The eight funds overseen by BLF had NT$4.95 trillion of assets under management as of July 2021.