The mandate covers an approximately $1 billion fund, and will include fund accounting, performance and risk analytics, and compliance services.
Investment services provider BNY Mellon says it has been appointed to provide custody and administration solutions for the Taiwanese Governement Pension Fund's $1 billion National Pension Insurance Fund, which invests funding for the island's Bureau of Labor Insurance.
The mandate will include fund accounting, performance and risk analytics, and compliance services, representing the latest big project for BNY's 40-year presence on the island.
"Historically, Taiwanese pension funds have focused on the domestic equity markets in respect to their asset allocation strategies. This is slowly evolving with funds diversifying their strategies and seeking opportunities internationally, particularly in respect of equities, but also increasingly alternatives and emerging markets. As both a global custodian and a global investment manager, this increase in cross-border activities presents many opportunities for BNY Mellon to help Taiwanese pension funds achieve their goals," says James Liu, country executive for BNY Mellon in Taiwan.
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