Chunghwa Post, Taiwan's postal savings and insurance institution with NT$3.6 trillion $113.2 billion of assets under management, plans to choose five external fund management companies to outsource a total of $500 million in global investment mandates, says Yen Yung-an, director of capital operations.
The organization has just appointed Citibank as its first global custodian until now, offshore investments were handled through trustee accounts with Chinatrust Commercial Bank and the Central Trust of China.
The organization is now finalizing its manager selection. Some fund management executives say the decision has already been made but not announced. Chunghwa Post will tap five managers, two for global equities and...
