Taiwan Labor Fund Bureau Selects Four Asset Managers for $1.6 Billion Global Bond Mandate

The Bureau of Labor Funds (BLF) announced today the selection of four investment firms for a $1.6 billion global passive bond mandate, covering both the Labor Pension Fund (New Scheme) and the National Pension Insurance Fund.

Following a competitive selection process involving multiple stages of evaluation, the BLF chose DWS International GmbH, Goldman Sachs Asset Management, L.P., State Street Global Advisors Singapore Limited, and UBS Asset Management (Singapore) Ltd.

The mandate includes $300 million allocated to each selected firm for the Labor Pension Fund and $100 million each for the National Pension Insurance Fund, totaling $1.6 billion over a five-year term. These investments will track the Bloomberg Global Aggregate Index ex CNY. By utilizing a passive investment strategy, the BLF aims to minimize management costs while enhancing asset allocation stability and risk diversification to ensure stable, long-term returns for the funds. The bureau will proceed with contract signings and account setups, while continuing to monitor global economic conditions to determine the appropriate timing for capital allocation.