Taiwan’s Bureau of Labor Funds, Taipei, hired J.P. Morgan Asset Management, Allianz Global Investors, Deutsche Asset Management and PineBridge Investments to manage $800 million each in global multiasset portfolios, a spokeswoman said.
The four managers will oversee $450 million apiece on behalf of the Labor Pension Fund, which at $46.7 billion is the biggest public fund under the BLF umbrella.
Of the remaining $1.4 billion in multiasset allocations, the four managers will manage $200 million each for the $20.4 billion Labor Insurance Fund, and $150 million each for the $20.9 billion Labor Retirement Fund.
Separately, the BLF hired BlackRock, Northern Trust Asset Management and Vanguard Group to manage $700 million each in enhanced Asia-Pacific equities.
Of that $2.1 billion total, $1.5 billion will be managed for the Labor Pension Fund.
BlackRock, Northern Trust and Vanguard will manage $100 million each for the Labor Insurance Fund, and another $100 million each for the $6.8 billion National Pension Insurance Fund.