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Ireland's NTMA announces first mandate winners

IRELAND- Ireland’s National Treasury Management Agency (NTMA) has announced the appointment of its first three investment managers to run part of the e6.5bn National Pensions Reserve Fund. Barclays Global Investors has been selected to manage a total of e1.8bn in Eurozone and North American passive equities while Bank of Ireland Asset Management and State Street global Advisors are to run a e1.1bn Eurozone passive equities mandate between them.

Last July the NTMA, who is the overall manager of the fund, issued a RFP for managers to oversee approximately e6bn in assets. It received 600 applications from around 200 institutional investment managers during the first round of selection. These were then reduced to 180 applications from 100 firms who were subsequently invited to tender for the second round.

The NTMA has a further eleven mandates that require managers. Among those unfilled are three pan European equity active core portfolios worth e335m each, one e400m US equity enhanced index portfolio, one e340m US equity active growth portfolio, one e340m US equity active value portfolio, one (possibly two) Japanese equity active portfolio(s) worth a total e340m, one pacific basin ex-Japan equity active portfolio worth e100m, two global equity active portfolios worth e400m each and one eurozone long band active portfolio valued at e400m.

The NTMA is managing a e1.1bn passive eurozone bond portfolio and says the remaining appointments will be announced shortly.

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