NCSSF boosted by Rmb100bn provincial mandate

China’s Shandong province has handed a Rmb100 billion ($16 billion) mandate to the $230 billion social security investment fund, in a bid to boost returns. Shandong’s move makes it only the second province, after Guangdong, to entrust the national retirement fund with its pension pot. It comes amid ongoing national attempts to reform China’s pension fund management, which includes considering alternatives and handing out overseas mandates. Shandong and the National Council for…