Taiwan’s PSPF grants US$1 billion funding for two global mandates
Taiwan’s Public Service Pension Fund (PSPF), a mandatory defined-benefit scheme for civil servants, teachers and military personnel, has granted US$1 billion of funding to seven foreign asset managers for its two most recent global mandates.
JP Morgan Asset Management, AllianceBernstein LP and Schroders plc, which were selected a year ago to oversee the fund’s $600 million global multi-asset mandate, each received $200 million, according to the PSPF’s latest monthly report posted on its website.
The pension fund also awarded $100 million each to Amundi Asset Management, American Century Investments, Deutsche Asset Management and TCW Group. The four were chosen this January to manage its $800 million global total return fixed income mandate.
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