Go TO Content

2019 Operational Highlights

● To safeguard the financial soundness of the Fund, following pension reforms, regulatory amendment, and subsequent implementation, the Supervisory Board will continue to monitor the injected funds to the Public Service Pension Fund, and follow up on the review progress for contribution rate with competent authorities.

● In response to changes in both domestic and overseas financial markets, the Supervisory Board examined the drafting, by the Management Board, of Regulations for TWSE-listed (and TPEx-listed) Stocks and Exchange Traded Funds Investments of Public Service Pension Fund. All related tasks aimed to enhance the effectiveness of fund investment and operations.

● The Supervisory Board issued Weekly Supervisory Reports to keep track of domestic and overseas financial market developments and major political and economic events to analyze changes in the market promptly and monitor the impact of such market developments on the Fund portfolios.

● In addition to conducting monthly performance reviews, the Supervisory Board conducts quarterly reviews on overall Fund performance and urged the Management Board to submit review reports in an effort to fortify the Fund performance evaluation system further.

● The Supervisory Board changed the schedule of board meetings to once in every two months. It required the Management Board to submit topic-specific reports for reviewing Fund performance in depth, e.g., reviews on fixed income, beneficiary certificate investment, and performance comparison to the pension fund for private schools faculties in Taiwan. The Supervisory Board also required the Management Board to adjust the investment position of fixed income and capital gains to their respective center allocations and thus increased the weighting of the latter generating more profits, from 46.55 percent to 51.34 percent at the end of 2018 and 2019, respectively. Such adjustment contributed meaningfully to Fund performance.

● In light of the growing involvement with alternative investment, to ensure the fair presentation of Fund financial statuses and management results, the Supervisory Board continues to review monthly financial statements, conduct year-end audits, and monitor all accounting measures and the adequacy of the accounting system.

● The Supervisory Board researched the supervision of alternative investment focusing on private equity funds, and the current status and investment strategies for alternative indexes. For better Fund supervision in the future, The Supervisory Board will refer to the insights gained from the studies each in private equity investment and their supervision models worldwide, and the development and investment approaches of various alternative indexes.