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The future work of the Fund has to keep the situation of safety and profitability and continue to handle all the work according to the legal limitation of liability, there are two boards of focus on future work as follows:

  • Adjusting the Fund's asset allocation flexibly with taking into account overall performance and risk management

To enhance the Fund's performance, the Supervisory Board constantly keeps watch the Management Board to flexibly adjust its asset allocation and diversify its investments in response to domestic and international, political and economic circumstances, while considering both performance and risk assessment, with a view to steadily increase the Fund's management efficiency and total investment returns.

  • Strengthening the Fund's internal control procedures and completing the audit and supervision function.

To ensure the discipline and safety of the Fund's operations, the Supervisory Board continuously urges the Management Board to regularly review and step up its internal control mechanism to make sure all operations are in line with rules and regulations, and the Supervisory Board also keeps refine the thoroughness of paper-based and on-site audits in order to strengthen the Management Board's internal control and prevent any breach or malpractice from the Fund's operations.

  • Watching the international financial situation and adjusting its asset allocation in a timely manner

The Management Board will keep a close watch on the implications of the COVID-19 pandemic, the US-China trade dispute and geopolitical risks on the global economy and supply chain, and adjust its asset allocation and investment strategy in a timely manner and reinforce its investment portfolio in order to pursue long-term sound investment performance and sustain the financial integrity of the Fund.

  • Developing investment practices to meet practical operational requirements

In view of the rapidly changing financial situation, in order to smoothly implement the annual investment plan and institutionalize the use of funds, it will review the entrustment rules and regulations on fund utilization in accordance with the practical operational requirements, so as to establish operational procedures that are more in line with actual business operations.

  • Discussing the appropriate types of mandate to enhance the total performance of outsourcing management

In order to achieve the objectives of risk control and diversification, the Management Board will continue to discuss different types of mandate and performance indicators to strengthen the performance management of external managers, with a view to diversifying investment choices such as appropriate mandate mix and investment regions to effectively diversify investment risks, enhance management efficiency and improve the Fund's operational performance.

  • Increasing the auditing efficiency and fulfilling the internal auditing function

The Management Board reviews and revises existing audit procedures from time to time to address adjustments to asset allocation, new investment targets and amendments to investment restrictions, and strengthens practical job training and utilizes the information reporting mechanism of the Financial Supervisory Commission on an ongoing basis to ensure all operations complying with statutory requirements and the safety of the Fund’s assets.

The pension system is an important link in the reform of the civil service system. The management quality of the Fund is closely associated with the rights and interests of retirees from the military, civil service and public schools. The staff members of the PSPFMB and the PSPFSB have the obligation to make active efforts and devote themselves to maximize their functions as prudent managers. Apart from responding to global economic developments and making timely adjustments to investment strategies, they must also enhance the performance of discretionary management to pursue long-term stable investment performance to achieve the goal of sustainable management.