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Bureau of Labor Funds wins Institutional Excellence Award

Bureau of Labor Funds wins Institutional Excellence Award

Taipei, Nov. 2 (CNA) Taiwan's Bureau of Labor Funds has been selected by Asian Investor magazine as one of the winners of its Institutional Excellence Awards. The bureau was recognized for excellence in the "public pension fund" category, according to the results announced Oct. 30. Established on Feb. 17, 2014, the bureau is responsible for managing various labor funds under the Ministry of Labor. It is also commissioned by the Ministry of Health and Welfare to manage the National Pension Fund. As of the end of September, funds under its management had amounted to NT$3.11 trillion (US$95.82 billion). The bureau said Monday that it will work to increase alternative investments in the future. As of the end of October, alternative investment holdings had reached US$2.85 billion, accounting for 11 percent of entrusted operations overseas. The bureau said its profit in October totaled NT$50 billion, setting a new high since its establishment and helping to offset losses incurred before September. This pushed returns for the first 10 months of this year into positive territory at NT$14 billion. (By Zoe Wei and Y.F. Low)


Updated : 2021-09-21 00:53 GMT+08:00