Taiwan’s Labour Pension Fund (LPF) has deferred capitalizing its recently awarded mandates due to poor market conditions, Asia Asset Management reports. It recently reinstated some of the financing for its international real estate investment trust (Reit) and international equity mandates of the new scheme. However, the fund has still not put money into the international equity mandates of the earlier scheme.
LPF had awarded international Reit mandates of $300 million each to Cohen & Steers, Invesco and European Investors in July. BlackRock and State Street Global Advisors were appointed to run $600 million each in international equity mandates for the old and new schemes. Additionally, UBS and Nomura Holdings were assigned the job of running $300 million each in international equities mandates for the new scheme.
Click here for the story from Asia Asset Management.
