Taiwan offshore pension mandate looms

The Public Service Pension Fund will announce ground rules for fund managers next month.

The $5.5 billion Public Service Pension Fund, one of Taiwan's big four government pension schemes, is expected to announce its criteria and qualifications for global fund managers next month, with requests for proposals for $500 million of assets to go out in January, and mandate to be awarded by the end of February.

The PSPF will be the first Taiwanese entity to provide an offshore mandate on a discretionary basis, and the first pension fund to invest abroad at all. It is being closely watched by the other three pension schemes, which together have nearly $100 billion in assets and are keen to diversify offshore.

According to drafts being circulated by the PSPF's committee...

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