HSBC wins Chunghwa Telecom funds mandate

The Taiwanese company makes its first international investment outsourcing.

Chunghwa Telecom, the biggest telecommunications company in Taiwan, has awarded its inaugural overseas investment mandate to HSBC Investments, according to market participants.

The company, which used to be state-owned, is following in the footsteps of public pension funds in Taiwan by experimenting with overseas institutional mandates, in this case for its corporate war chest.

It only handed out a single $100 million, global-balanced mandate, said to be on an absolute-return basis. Only fund houses with an onshore presence were invited...

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