BLF invites bids for $2.8b in absolute-return equity mandates
The $125 billion state fund is seeking managers for 15 mandates for its first overseas absolute-return equity portfolios, as it seeks to counter expected volatility in global markets.
Taiwan’s Bureau of Labor Funds (BLF) invited bids on Monday (November 20) for a five-year overseas investment mandate worth a total of $2.8 billion: its first for global absolute-return equity portfolios.
The NT$3.8 trillion ($125 billion) state pension manager is awarding the portfolios on behalf of three of its sub-funds—the Labor Pension Fund (LPF), Labor Retirement Fund (LRF) and National Pension Insurance Fund (NPIF).
The mandate is split, with $2 billion for LPF, $400 mill…
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