Funds managed by the Bureau of Labor Funds posted solid year-to-date gains of about NT$976 billion (US$31.06 billion) in the first 11 months of last year on the back of soaring financial markets, the bureau said yesterday.
Data compiled by the bureau showed that the accumulated gains, which reflect overall increases in the value of assets and investments, totaled NT$976.2 billion after NT$116.8 billion in gains in November alone.
The 11-month gains translated into a return of 14.10 percent, the data showed.
Photo: An Rong Xu, Bloomberg
The bureau said that despite worries about the US economy and a possible artificial intelligence investment bubble, expectation about a ceasefire between Russia and Ukraine helped global financial markets stabilize in November last year.
In the 11-month period, the TAIEX soared 19.93 percent, while the MSCI World Index surged 21.07 percent and the Bloomberg Barclays Global Aggregate Bond Index rose 7.89 percent.
The bureau said that 58.17 percent of the investments made by the labor funds were overseas in the first 11 months of last year, with the remaining 41.83 percent invested on the local market.
The combined value of the funds managed by the bureau — the Labor Pension Fund, the Labor Retirement Fund, the Labor Insurance Fund, the Employment Insurance Fund and the Arrear Wage Payment Fund — totaled NT$7.695 trillion as of the end of November last year.
The value of assets in the new Labor Pension Fund, launched in 2015, totaled NT$5.10 trillion, the highest of any fund, and its rate of return for the year stood at 13.70 percent, the bureau said.
The Labor Retirement Fund, which has been in place since 1984, had about NT$1.06 trillion in assets with a rate of return of 20.07 percent, it said.
Meanwhile, the Bureau of Public Service Pension Fund yesterday said that the Public Service Pension Fund managed by the bureau recorded NT$138.09 billion in gains during the same 11 months, a rate of return of 13.42 percent.
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