The Bureau of Labor Funds (BLF) announced today that it will launch a public tender to select external asset managers for the “Global Passive Fixed Income” overseas investment mandates under the Labor Pension Fund and the National Pension Insurance Fund for fiscal year 2026. BLF plans to select four qualified external managers. Each selected manager will be entrusted with USD 300 million from the Labor Pension Fund and USD 100 million from the National Pension Insurance Fund, representing a total mandate size of USD 1.6 billion. The mandate term will be five years.

The mandate will adopt a passive investment strategy, investing in the global bond market with the Bloomberg Global Aggregate Index ex CNY as the benchmark. Through diversified investment across different countries, sectors, and credit ratings, the strategy seeks to capture investment opportunities in the global fixed-income market. By employing a passive approach, the funds aim to participate in global bond market at relatively lower cost, while enhancing portfolio stability and diversification, thereby supporting the long-term and stable returns of the funds.

The BLF noted that both the Labor Funds and the National Pension Insurance Fund have consistently adhered to the principle of seeking long-term and stable returns. In line with the growth of fund assets and the established annual asset allocation plan, investments are arranged across a diversified portfolio including domestic and overseas equities, bonds, as well as alternative assets beyond traditional equities and bonds. This mandate represents a consistent allocation of capital under the annual asset allocation framework. The submission deadline for proposals is April 9, 2026, and qualified domestic and international asset managers are encouraged to participate in the selection process. BLF also expects that selected managers, while providing professional investment management services, to further deepen their engagement and commitment in the Taiwan market. In doing so, the mandate seeks to enhance the funds’ long-term investment performance while at the same time bringing more international asset management business and resources to Taiwan.

The Labor Funds and the National Pension Insurance Fund aim to safeguard the retirement and economic well-being of the public while pursuing long-term and stable investment returns. The BLF will continue to adhere to prudent investment principles and manage fund assets professionally, striving to enhance long-term investment performance and help protect retirement security of the people.