Seven out of 10 PSPF mandates underperform in 2009

Taiwan's Public Service Pension Fund (PSPF) has unveiled the line-up of managers for its latest offshore mandates. A total of four have been picked from 20 applicants to help manage the civil-servant pension fund's latest outsourcing for investments in global and Asia-Pacific equities. Twelve bid for the global portfolios, eight for the Asia-Pacific mandates. The global equity managers qualified on the basis that they had outperformed the MSCI World All Country Index on a total-retur…