PSPF mandates three for $600 million

The Taiwanese pension fund hires Allianz, Franklin Templeton and SSgA for absolute-return mandates.

TaiwanÆs Public Service Pension Fund, the NT$326 billion $9.9 billion pensions organisation for TaiwanÆs civil servants, has awarded three $200 million mandates to Allianz Global Investors, Franklin Templeton and State Street Global Advisors.

Sources in Taipei report that the mandates are all labelled global balanced but in fact are absolute-return mandates, a first for a Taiwanese public fund.

The Bureau of Labour Insurance had attempted to issue absolute-return mandates last year but cancelled the programme when it realised it...

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