Consultant Bacon & Woodrow has been appointed to advise the Irish National Treasury Management Agency (NTMA) on the selection of a global custodian for the e6.5bn National Pensions Reserve Fund (NPRF).
The consultant was chosen from a list of 10 tenders.
The size of the fund is set to increase by around IR£600m every year, as the Irish government is committed to contributing 1% of the country’s GDP annually.
Following the appointment, NPRF announced its invitation to tender for a global custodian. The fund is looking for a custodian with at least 10 years experience, a credit rating of A, a portfolio size of $500bn (e574bn), and links with fund managers worldwide.
The fund says it will choose the custodian for a period of three to five years from a minimum of five tenders.

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