Taiwan Bureau of Labor Funds, Taipei, selected four asset management firms to manage a $1.6 billion global real estate securities allocation with a sustainable reference index, according to a Jan. 22 statement.
BlackRock Investment Management (U.K.), CenterSquare Investment Management, Fidelity International, and RREEF America, which is part of DWS Group, were chosen to manage the allocation, the statement said.
Information about how much each manager will manage was not available.
BlackRock manages $11.6 trillion globally, CenterSquare has around $13 billion in assets under management, Fidelity International manages $925.7 billion, and DWS Group has €963 billion ($986.2 billion) in AUM.
The mandate was issued as the pension fund manager seeks to diversify fund risks and improve returns by leveraging international asset managers’ different styles and resources, BLF said in the statement.
The mandate also marks the first time an international pension manager has adopted the FTSE Developed Markets Real Estate Green Index as a reference index, the statement said.
BLF oversees eight pension and annuity funds that have NT$7.6 trillion ($232 billion) in combined assets as of November 2024.
