The Taiwanese Government Pension Fund, Bureau of Labor Insurance has appointed BNY Mellon to provide custody and investment administration solutions for its National Pension Insurance Fund.
BNY Mellon was selected to provide global custody, fund accounting, performance and risk analytics and compliance services for the Fund, which has assets totaling approximately $1 billion.
James Liu, country executive for BNY Mellon in Taiwan, adds: 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.
BNY Mellon has been in Taiwan for more than 40 years and was granted a branch license in 1973. It serves Taiwanese financial institutions and pension funds.