Chunghwa Post finalizes fund managers

Chunghwa Post, Taiwan's postal savings and insurance institution with NT$3.6 trillion ($113.2 billion) of assets under management, plans to choose five external fund management companies to outsource a total of $500 million in global investment mandates, says Yen Yung-an, director of capital operations. The organization has just appointed Citibank as its first global custodian; until now, offshore investments were handled through trustee accounts with Chinatrust Commercial Bank and…