Taiwan's LPF readies local mandates worth NT$24 billion

The Labour Pension Fund, the $25 billion dollar pension body in Taiwan, says it is soliciting bids for eight mandates worth a total of NT$24 billion to invest in the domestic market. The mandates will be good for three years. The LPF has set an annual performance target of 9% a year. Fund managers will be paid on a scale of eight basis points to 60bp a year depending on how close they come to achieving the LPF's target. The LPF is open to suggestions as to how the fund managers inve…