Taiwan’s BLI issues $1 billion overseas custody mandate

Taiwan’s insurance bureau has issued the first overseas investments mandate for its National Pension Insurance Fund (NPIF) to meet its growing overseas asset allocation needs. The Bureau of Labour Insurance (BLI) published the $1 billion NPIF mandate on its website on Friday. Only one custodian bank will be selected for the five-year management contract, which can be extended at expiration more than once for a further five years. The NPIF has accumulated total assets under manag…