Demand for global custody and administration services expected to rise as Taiwanese investors continue to seek increased exposure to international markets
TAIPEI, 24 July 2012 — BNY Mellon, the global leader in investment management and investment services, has been appointed by Taiwanese Government Pension Fund, Bureau of Labor Insurance, to provide custody and investment administration solutions for its National Pension Insurance Fund.
BNY Mellon has been selected to provide global custody, fund accounting, performance & risk analytics and compliance services for the Fund, which has assets totalling approximately US$1 billion.
"Taiwan continues to be a dynamic market as its funds industry becomes increasingly globalised," observes 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 of 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 has been in Taiwan for more than 40 years and was granted a branch license in 1973. BNY Mellon provides a wide variety of global products and services to Taiwanese financial institutions and pension funds including Treasury Services, Asset Management, Asset Servicing, Depositary Receipts and Foreign Exchange services.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.