BNY Mellon scoops up $1 billion Taiwanese custody mandate
24 July 2012 Taipei
Image: Shutterstock
BNY Mellon will provide custody services and investment administration solutions in its new mandate of Taiwan’s Bureau of Labor Insurance.
BNY Mellon has been selected to provide global custody, fund accounting, performance & risk analytics and compliance services for the National Pension Insurance Fund, which has assets totalling approximately US$1 billion.
“Taiwan continues to be a dynamic market as its funds industry becomes increasingly globalised,” says Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing. “As Taiwanese asset managers diversify their portfolios through increased investment overseas, demand for global custody and related services from institutions like BNY Mellon, is on the rise.”
James Liu, country executive for BNY Mellon in Taiwan, adds: “Historically, Taiwanese pension funds have focused on the domestic equity markets in respect to their asset allocation strategies.
“This is slowly evolving with funds diversifying their strategies and seeking opportunities internationally, particularly in respect of equities, but also increasingly alternatives and emerging markets.
“As both a global custodian and a global investment manager, this increase in cross-border activities presents many opportunities for BNY Mellon to help Taiwanese pension funds achieve their goals.”
BNY Mellon was granted a branch license in Taiwan in 1973.
BNY Mellon has been selected to provide global custody, fund accounting, performance & risk analytics and compliance services for the National Pension Insurance Fund, which has assets totalling approximately US$1 billion.
“Taiwan continues to be a dynamic market as its funds industry becomes increasingly globalised,” says Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing. “As Taiwanese asset managers diversify their portfolios through increased investment overseas, demand for global custody and related services from institutions like BNY Mellon, is on the rise.”
James Liu, country executive for BNY Mellon in Taiwan, adds: “Historically, Taiwanese pension funds have focused on the domestic equity markets in respect to their asset allocation strategies.
“This is slowly evolving with funds diversifying their strategies and seeking opportunities internationally, particularly in respect of equities, but also increasingly alternatives and emerging markets.
“As both a global custodian and a global investment manager, this increase in cross-border activities presents many opportunities for BNY Mellon to help Taiwanese pension funds achieve their goals.”
BNY Mellon was granted a branch license in Taiwan in 1973.
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