Update with correction
Taiwan's Bureau of Labor Funds, Taipei, is looking for managers to run a combined $2.3 billion in allocations to enhanced global U.S. dollar corporate bonds.
The BLF is seeking five managers to run $400 million apiece for its NT$2.634 trillion ($89.4 billion) Labor Pension Fund and another five managers to run $60 million each for its NT$353.7 billion National Pension Insurance Fund, an RFP issued July 3 said.
Applicants can download relevant RFP documents from the BLF website, which are to be submitted by 5 p.m. Taipei time Aug. 10.
The contracts will run for five years. Applicants must be established for more than three years as of May 31, 2020 and have global assets under management of no less than $5 billion. The track record of products submitted for consideration should be no less than three years. Applicants must have branch institutions, operation venues or service teams within the territory of Taiwan, or appoint a financial services provider to act as an agent.
Managers should take socially responsible investment considerations into account, excluding companies whose primary business involves the production or operation of tobacco, alcohol, arms, gambling and pornography, and aim to outperform the benchmark — the Bloomberg Barclays Global Aggregate Corporate USD ex Controversial Industry index, Total Return, Unhedged — by 0.5% a year.
Further information can be obtained through emails found in the RFP.