This week in asset owner history: Taiwan BLF’s first overseas ESG mandate
Taiwan’s largest pension manager opened a bid for its first overseas ESG mandate back in late 2016, in order to diversify investment risk and create stable long-term returns. The strategy is now being tested during the market downturn.
In November 2016, Taiwan’s Bureau of Labor Funds (BLF) said it would run a $2.4 billion mandate for its first global environmental, social and governance (ESG) smart-beta passive equity allocation in a bid to diversify its portfolio.
This was the first time that the largest pension manager in Taiwan expanded its ESG investment into an overseas mandate.
At the time, the mandate specified that portfolio companies must meet ESG responsibilities, and cannot come from industries invo…
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