TaiwanÆs PSPF readies $500 million in mandates

This month the civil servants pension fund will send out RFPs for international fund managers and custodians.

Taiwan's Public Service Pension Fund PSPF, an arm of the Ministry of Civil Service, is about to issue requests for proposals RFPs to international fund managers and custodian banks. PSPF executives expect to implement the mandates by mid-December, making the PSPF the first Taiwanese pension fund to invest overseas. The move has been long anticipated but was delayed in the wake of Sars and the American invasion of Iraq. But the internal paperwork necessary to move forward was signed off this week.

Michael Chen, auditor and member of the PSPF management board, says the organization will offer five mandates to five fund managers, each worth $100 million. Three will be for...

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