BLF postpones multi-factor bond quest
There will now be no such mandate this year because of the difficulties involved in finding an appropriate benchmark, Taiwan’s biggest state pension fund tells AsianInvestor.
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Taiwan's Bureau of Labor Funds has postponed plans to employ enhanced indexing strategies in its fixed-income investments because it is struggling to find appropriate factor-based benchmarks.
The NT$4.11 trillion ($132 billion) pension fund had been mulling an investment mandate that would employ an enhanced indexing, or smart beta, strategy for its overseas bond portfolio, having already gone down that road with some of its equity investments.
Having not issued any new fixed in…
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