Taiwan's Labour Pension Fund says it is soliciting bids for $1.5 billion worth of overseas investment mandates. The fund's supervisory committee expects to select six managers from the latest round of bidding. Each manager will receive $250 million from the fund to invest in a global equities or a global fixed-income portfolio.
The committee says it will evaluate the bidders' performance over the past three years against the MSCI World Index and the FTSE All World Index in the equities category. For the fixed-income portfolio, managers are expected to show proof of superior performance against the benchmark Lehman Brothers Global Aggregate Bond Index or the Citigroup World Broad Investment Grade Index.