Taiwan's Bureau of Labor Funds is searching for global equity index and global credit managers to run a total of approximately $4.35 billion, said an announcement on BLF's website.
The bureau, which oversees NT$2.8 trillion (US$88 billion) in pension, retirement and insurance assets for Taiwanese workers, is searching for global quality equity index managers to run a total of $2.55 billion.
Approximately $1.5 billion will be divided evenly among three managers for the Labor Pension Fund, $600 million among three managers for the Labor Insurance Fund and $450 million among three managers for the National Pension Insurance Fund. The funds have approximately NT$1.28 trillion, NT$616 billion and NT$189 billion in assets, respectively, according to BLF’s website.
The bureau is also searching for managers to run a total of $1.8 billion in enhanced global sovereign credit.
Approximately $900 million will be divided evenly among three managers for the Labor Pension Fund, $300 million among three managers for the Labor Insurance Fund and $600 million among three managers for the National Pension Insurance Fund.
The reason for the searches, along with funding sources, could not be learned by press time.
The RFPs are available on BLF's website.
The deadline for proposals is 5 p.m. Taiwan time on Feb. 9. Timelines for hiring decisions were not disclosed.
Officials at the BLF could not immediately be reached for additional information by press time.
