The Public Services Pension Fund of Taiwan is set to double its equity allocation this year according to reports.
The USD9.7 billion state run pension fund will up its equity investment from 35% to 60%, Chairman Chang Che-shen told Reuters reporters.
“We will focus on attaining stable returns this year,” Chang said. “If the economy bottoms out, we will invest more money in stocks.”
Chang also stated that the fund will increase foreign mandates by T$30 billion by July from about T$61 billion, and mandates to local fund managers will jump by T$20-T$45 billion versus T$48.8 billion during the same period.
Citigroup is the custodian bank for the pension fund’s overseas assets.