Four asset management firms have been selected by Taiwan’s Bureau of Labor Funds (BLF) to manage its US$1.6 billion global sustainable securitised real estate mandate, namely BlackRock Investment Management (UK), CenterSquare Investment Management, Fidelity International and RREEF America.

In a statement, the pension fund supervisor said it is focused on diversifying risk and enhancing returns by outsourcing investments to international asset managers with varied styles of investment.

BLF added that it intends to “keep an eye on domestic and international market trends” and will “increase funding for its domestic and global mandates on a timely basis”. The pension fund supervisor added that this marks “the first time that an international pension fund has adopted the FTSE Real Estate Green Index for Developed Markets as a reference index”, with the ambition “to continue to lead other institutional investment firms to pay attention to sustainability issu