Head of Taiwan's Bureau of Labor Funds to depart

Huang Chao-Hsi, the secretary general of Taiwan's Bureau of Labor Funds, will step down on Jan. 16, a BLF spokeswoman said Tuesday in an e-mail.

His replacement to lead the Taipei-based BLF, which oversaw $104 billion in labor funds as of Nov. 30, hasn't been announced yet, said the spokeswoman.

Mr. Huang led the BLF, which includes the $52.4 billion defined contribution Labor Pension Fund and the $25.3 billion defined benefit Labor Retirement Fund, since it was established in 2014 to bring oversight of six labor-related funds under one roof.

During his tenure, which included leadership of those major funds under the pre-BLF administrative structure, allocations to alternatives such as listed infrastructure and real estate, as well as smart beta strategies, were added. Currently, the funds are looking to hire their first external managers for ESG-focused equity strategies and absolute-return fixed-income strategies.