Taiwan's largest pension fund hiring managers for $3.0b bond mandate
Thursday, 7 July 2022
HONG KONG, July 5 (Reuters): Taiwan's largest pension fund is seeking to hire global asset managers to run a bond portfolio totalling $3 billion.
The Bureau of Labour Funds, administering $5.8 trillion ($190 billion) worth of Taiwanese pension assets, started to look for six foreign asset managers on Tuesday, the fund said in a statement.
Each of the hired managers will be awarded $500 million in assets to run, the pension said, and will have to adopt a total-return bond strategy.
Last month the fund awarded a mandate to the fund management arms of HSBC (HSBA.L), Morgan Stanley (MS.N) and three others to run Asia's first climate change-focused fund with $2.3 billion in assets.