Mercer Ltd has been appointed to advise on an investment strategy for Ireland's IR£5bn National Pensions Reserve Fund (NPRF) .
Deborah Riedy, head of investment managers selection for NPRF, said Mercer has six weeks to formulate a strategy that will address matters such as the active/passive split, and equity, fixed interest and bond weightings.
The NPRF is free to invest in all asset classes, excluding Irish government securities. The fund is expected - because of its long-term holding periods - to have a heavy concentration in a well-diversified portfolio of international equities. Management of the assets is expected to be substantially outsourced, apart from fixed interest securities which may be managed in-house.
A revised strategy is expected to be presented to the fund by the end of June.
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