* NSSF appoints new set of foreign fund managers
* BNY Mellon, Schroders, Fidelity and Martin Currie picked
SHANGHAI/HONG KONG, June 9 - China's National Social Security Fund (NSSF) is ready for a new round of investment in global capital markets as it has appointed a new set of foreign asset managers, including BNY Mellon Asset Management and Schroders, sources said on Tuesday.
The $80 billion NSSF awarded mandates to a group of international fund managers, which also includes Martin Currie and Fidelity Investments, and started doling out money in April, said the sources with direct knowledge of the matter.
The new mandates, which followed a beauty parade launched last May, represent the NSSF's latest effort toward a more diversified global portfolio. In late 2006, the Chinese national pension fund selected 10 foreign fund houses to help invest $1 billion in global capital markets, mainly stocks and bonds.
Under the latest mandates, select foreign fund managers will help the NSSF to invest in five different equity classes, including shares in overseas Chinese companies, the Asia-Pacific (ex-Japan), emerging markets, Europe and global markets.
Representatives for BNY Mellon, Schroders, Martin Currie and Fidelity all declined to comment, as did an NSSF spokeswoman.
The sources declined to be identified as they were not authorised to speak with the media.
The NSSF, headed by former central bank governor Dai Xianglong, has been increasingly relying on independent experts to manage assets to help sustain an annual investment return of 8.89 percent since the fund was established in late 2000.
China needs to revamp its national pension system to meet the challenges of an aging society, and the long-term success of any reforms rely on independent management of personal pension assets, Richard Jackson, a professor at the centre for Strategic & International Studies said in a recent research report.