IRELAND - The €19.4bn (US$30.5bn) National Pension Reserve Fund has allocated €600m to emerging market equities, split between three asset managers.
The award of the emerging market equity mandate to Pioneer also marks the launch of the company's institutional investment business in the Irish market.
The effort will be led by Dave Santry, as head of institutional business development, who joined from Bank of Ireland Asset Management (BIAM). He will work closely with Kate Parker, vice president of institutional sales, UK and Ireland, who is based in London.
Paul Price, global head of institutional business, Pioneer Investments, said: "I believe we are now excellently placed to continue growing our Irish institutional business. We're delighted to be successful in the tendering process for managing the emerging markets equity fund for the NPRF Commission and we look forward to a long and fulfilling relationship with them."
Earlier this month, the NPRF came under criticism for a proposed contributions holiday (www.globalpensions.com; 11 August) which was claimed would damage the fund's long term ability to pay benefits.
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