Taiwan’s Public Service Pension Fund (PSPF) is inviting asset managers to bid for three four-year global fixed-income mandates worth $450 million, Asian Investor reports. The new mandates are to primarily invest in investment-grade corporate bonds, debentures issued by banks and beneficiary certificates comprising exchange-traded funds and derivatives.
Applicants need to have a minimum operating history of three years and assets under management from institutional investors worth $10 billion. They will be expected to produce an annual return 50 basis points higher than the Barclays Capital Global Aggregate Corporate Bond Index that the funds will track, and keep ex-post tracking error below 6 percent.
Click here for the story from Asian Investor.
