# Bureau of Labor Funds

Bureau of Labor Funds is a Government / Public Body based in Taipei, Taiwan.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Taipei, Taiwan
- **Region:** Asia
- **Address:** Taipei, Taiwan
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** blf.gov.tw

## Regulatory record

- **Reports private funds:** No

## About

Bureau of Labor Funds is a Taiwan-based pension fund established in 1960. It oversees pension benefits and manages labor funds. Its investment focus includes biotech and life science sectors.

## Sectors

- Real Estate
- Infrastructure
- Energy Transition & Renewables
- Private Credit
- Hedge Funds
- Secondaries & Special Situations

## People

- Yu-Ching Su — Director General
- Keng-Wei Hsu — Deputy Director General

## Questions

### Who runs investment decisions at the Bureau of Labor Funds?

Yu-Ching Su serves as Director General, the top executive role. Deputy Director General Keng-Wei Hsu holds a senior investment position supporting the Director General. The Bureau's investment committee includes external experts alongside representatives from labor, employers, and the government, per Taiwan's tripartite governance model for labor funds.

### What is the Bureau of Labor Funds' relationship to Taiwan's Ministry of Labor?

The BLF is an agency of the Ministry of Labor, established in 2014 to consolidate the management of Taiwan's labor pension and insurance funds. It operates under the Ministry's supervision and its budget is subject to legislative review. The Ministry is the founding and overseeing entity, not a separate parent company.

### What funds does the Bureau of Labor Funds manage?

The Bureau manages six labor-related funds, the largest three being the Labor Pension Fund (New Scheme), the Labor Retirement Fund (Old Scheme), and the Labor Insurance Fund. Together these represent the majority of Taiwan's mandatory retirement savings and social insurance reserves for private-sector workers.

### How does the Bureau of Labor Funds allocate to alternatives?

The BLF allocates across domestic real estate (mixed-use properties in Taiwan), a global sustainable real estate securities mandate, commodity and natural resource exposures, and commitments to private equity, infrastructure, and credit funds. International alternatives are accessed through external manager mandates awarded by public tender.

### Does the Bureau of Labor Funds participate in fund commitments or only direct deals?

The BLF uses both approaches. Its domestic real estate portfolio consists of direct mixed-use property holdings in Taiwan. For international alternatives, it issues mandates to external managers through a formal procurement process, committing to funds rather than buying assets directly.

### Is the Bureau of Labor Funds a sovereign wealth fund or a pension fund?

It is a public pension fund and social insurance reserve manager, not a sovereign wealth fund. It invests mandatory contributions from Taiwan's labor force and employers, with liabilities tied to retirement payouts and insurance claims. It does not manage fiscal surpluses or commodity revenues like a typical sovereign wealth fund.

## Related profiles

- [Bupa](https://altss.com/profile/bupa)
- [Burgers Employees Profit Sharing Plan and Trust](https://altss.com/profile/burgers-employees-profit-sharing-plan-and-trust)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/bureau-of-labor-funds

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology