Key Takeaways
- • Taiwan's Bureau of Labor Funds (BLF) selected four international asset managers for a US$1.6 billion global sustainable securitised real estate mandate, according to Asia Asset Management.
- • The winning bidders are BlackRock Investment Management (UK), Fidelity International (Bermuda-based), CenterSquare Investment Management, and RREEF America.
- • BLF announced the tender results on its website on January 22, 2025; the tender had been opened on October 1, 2024, roughly four months earlier.
- • BLF is pursuing risk diversification and return enhancement by outsourcing to managers with different investment styles, and says it will increase funding for domestic and global mandates on a timely basis.
- • BLF oversees eight pension and annuity funds with NT$7.6 trillion (about $232 billion) in combined assets as of November 2024.
Summary
Taiwan's Bureau of Labor Funds (BLF) has chosen four international asset managers to run a US$1.6 billion global sustainable securitised real estate mandate, according to Asia Asset Management. The mandate was tendered roughly four months before the award, with the tender opened on October 1, 2024. BLF announced the results on its website on January 22, 2025.
The winning bidders are BlackRock Investment Management (UK), Bermuda-based Fidelity International, and two US firms, CenterSquare Investment Management and RREEF America. The selection reflects the pension fund supervisor's stated aim of diversifying risk and enhancing returns in a fast-changing market environment by outsourcing investments to international managers with differing investment styles.
BLF said it will continue to monitor domestic and international market trends and will increase funding for its domestic and global mandates on a timely basis. The agency oversees eight pension and annuity funds holding NT$7.6 trillion (about $232 billion) in combined assets as of November 2024.
The article is based on the BLF tender announcement and does not disclose fee terms, allocation sizes per manager, or specific benchmarks.
The winning bidders are BlackRock Investment Management (UK), Bermuda-based Fidelity International, and two US firms, CenterSquare Investment Management and RREEF America. The selection reflects the pension fund supervisor's stated aim of diversifying risk and enhancing returns in a fast-changing market environment by outsourcing investments to international managers with differing investment styles.
BLF said it will continue to monitor domestic and international market trends and will increase funding for its domestic and global mandates on a timely basis. The agency oversees eight pension and annuity funds holding NT$7.6 trillion (about $232 billion) in combined assets as of November 2024.
The article is based on the BLF tender announcement and does not disclose fee terms, allocation sizes per manager, or specific benchmarks.
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