IRELAND - The National Treasury Management Agency has been flooded with just under 600 applications for mandates to manage the sub funds of the EUR6.5bn (£3.9bn) National Pension Reserve Fund (NRPF).
More than 200 investment managers met the Monday deadline for applications to manage one or more of the 14-sub-funds. The processing of the applications could take up to two weeks. According to Deborah Reidy of the NTMA, the agency could receive five to 20 managers to reach the next stage for each sub-funds, which include:
*Three pan European equity active core portfolios valued at about EUR300m (£183m). *One US equity enhanced index portfolio valued at about EUR350m (£213m).*One US equity active growth portfolio valued at about EUR300m (£183m).*One US equity active value portfolio valued at about EUR300m (£183m).*One (or possibly two) Japanese equity active portfolio(s) valued in total at about EUR300m (£183m).*One Pacific Basin ex Japan equity active portfolio valued at about EUR90m (£55m).*One (or possibly more) Eurozone equity passive portfolio(s)valued in total at about EUR2bn (£1.2bn).*One (or possibly 2) US equity passive portfolio(s) valued in total at about EUR625m (£382m).*One Eurozone long bond active portfolio valued at about EUR350m (£213m), to be benchmarked against the Merrill Lynch EMU Direct Government Bond Index 10+yrs ex Ireland.*Two global equity active portfolios valued at EUR350m (£213m) each. Frank Russell and Watson Wyatt will advise the NTMA on the selection of investment managers for the NPRF.
By Janet Du Chenne
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