Taiwan’s Bureau of Labor Funds issued an RFP for managers to run a combined $3.2 billion in global multiasset strategies and $2.1 billion in Asia-Pacific equity strategies for the three largest retirement funds under its purview.
The RFP said four multiasset allocations of $450 million each will be issued for the Labor Pension Fund, which reported $46.6 billion in assets as of Oct. 31.
The Labor Pension Fund will also award three Asia-Pacific equity allocations of $500 million each.
The Labor Retirement Fund, the second-largest fund under the BLF umbrella with $20.3 billion in assets, will award four multiasset allocations of $150 million each, and three Asia-Pacific equity allocations of $100 million each.
The Labor Insurance Fund, with $20.1 billion in assets, is looking for four multiasset managers to run $200 million each, and three Asia-Pacific equity allocations of $100 million each.
The RFP is available on the BLF website. Proposals are due at 5 p.m. China Standard Time on Jan. 25.
The RFP specified that interested managers can apply for all of the allocations. Successful managers will enter five-year investment management contracts, which can be extended.
The strategies offered for consideration by applying firms must have a three-year track record.
The RFP noted that applicants must have branch institutions, operation venues or service teams in Taiwan, but they can meet that requirement by appointing any financial services provider currently operating in the country to be their service team. Applicants are “not required to establish any subsidiary or branch office in Taiwan,” the RPF said.
