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Document issuance date ： October 16th , 2009
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Document number ： 09860012130
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Subject ： Announcement of “The Open Tender Project of the Investment Manager Selection for Third Batch Overseas Discretionary Investment of Labor Insurance Fund (2009)”.
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Provisions ：
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I.
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Article 2 of the Management and Application Rules for Labor Insurance Fund. 。
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Overseas Investment Outsourcing Guidelines for Labor Insurance Fund.
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Announcement ：
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I.
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Mandate Type: Global Fixed Income. The assets under management shall be managed within segregated portfolios.
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II.
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Total Amount of Mandate: Estimated to be US$ 600million dollars with three selected managers, where US$ 200 million dollars will be under the management of each select manager.
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III.
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Term of Investment Management: The term of investment management shall be five years, starting from the initial funding date of the agreement. Upon the expiration thereof, the parties thereto may agree to extend the investment management term for an additional five years with the same terms and conditions and the management fees (including the increased amount) as provided in the original agreement. The investment management term may be extended more than once.
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IV.
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Qualifications of Applicant Manager:
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1.
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The applicant manager must be established for more than three years by August 31, 2009.
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2. |
The market value of the applicant manager's institutional investor clients' assets under management shall be no less than US$ 25 billion worldwide or its equivalent calculated in other currencies: The calculation of the market value of such institutional investor clients' global assets under management should be based on August 31, 2009 and should be limited to the aggregate assets under management of the applicant manager and of those asset management companies within the same enterprise group as the applicant manager. The scope of such institutional investor clients' assets under management should only include the separate accounts and the institutional commingled funds that solely comprise institutional investors and should exclude mutual funds that comprise both retail investors and institutional investors and shall also exclude mutual funds that cover only retail investors.
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3. |
The evaluation and expression of the investment performance shall be in line with the requirements of GIPS or AIMR-PPS as provided by CFA Institute (or such equivalent institutional criteria of other countries, provided that the applicant shall, at the time of application, submit a certificate certifying that such criteria are equivalent to CFA Institute GIPS or AIMR-PPS).
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Note: GIPS refers to Global Investment Performance Standards.
AIMR-PPS refers to AIMR Performance Presentation Standards.
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The applicant manager's track record in the Global Fixed Income composite under its management shall be no less than three years (as of August 31, 2009).
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V.
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Application Document and Procedure: Please refer to the “Application Guidelines for Investment Manager Selection Third Batch Overseas Discretionary Investment of Labor Insurance Fund (2009)”
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VI.
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Requesting the Application Document s ： The applicant manager should, starting from Oct. 16 th , 2009, download the following application documents and related reference documents on the website of the Bureau (http://www.bli.gov.tw).
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VII.
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The applicant manager should deliver the documents with “registered mail” or by courier to the Secretariat (General Affairs Section) of the Bureau ( 11F , No. 4, Sec 1, Roosevelt Rd , Taipei , Taiwan (R.O.C)) prior to 5:30 pm Nov. 9 th , 2009, and obtain the receipt certificate. The applicant manager should itself estimate the time for delivery; delayed documents will not be received by the Bureau, and the Bureau will not be responsible for such delay. Application documents that have been submitted shall not be revised, revoked or returned for whatever reason.
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VIII.
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Miscellaneous requirements ： Please refer to the “Application Guidelines for Investment Manager Selection Third Batch Overseas Discretionary Investment of Labor Insurance Fund (2009)”
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Reference telephone number and email address:
Bureau of Labor Insurance - Financial Department
Tel: +886-2-2396-1266
Ellen Wu 70155@ms.bli.gov.tw, ext. 2765
Alice Hsieh 70153@ms.bli.gov.tw, ext. 2747
Grace Hsu 70178@ms.bli.gov.tw, ext. 2766
William Liu 70005@ms.bli.gov.tw, ext. 2770
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