Taiwan's NT$3.84 trillion ($127.1 billion) Bureau of Labor Funds, Taipei, is searching for managers to run $2.8 billion in absolute-return global equity allocations.
A total of 15 allocations will be awarded for three funds under the BLF umbrella, with:
- five allocations of $400 million each for the $61.3 billion Labor Pension Fund;
- five managers running $80 million each for the $28.9 billion Labor Retirement Fund; and
- five mandates of $80 million each for the $9.6 billion National Pension Insurance Fund.
Interested firms should target investment returns of more than USD 3-month LIBOR plus 5%.
To apply, firms must have been established for more than three years as of Sept. 30, have global assets under management of at least $5 billion and a track record for the investment strategy offered of at least three years.
Application materials, which can be found in English and Chinese, are available on the BLF's website. Proposals are due by 5 p.m. Taiwan time on Dec. 25.