NTMA names five managers
Ireland’s National Treasury Management Agency (NTMA) has announced a further five managers to help run part of the e8bn National Pensions Reserve Fund. It has appointed Capital International and Dresdner RCM Global Investors to run two e420m global equity mandates. In addition, Bank of Ireland Asset Management, Blackrock International and Putnam Investment have each picked up a e350m pan- European equity mandate.
The announcement means that e6bn, or three quarters of the fund’s assets, now has investment managers. In January the agency appointed Barclays Global Investors to manage e1.8bn in Euro-zone and North American passive equities as well as Bank of Ireland Asset Management and State Street Global Advisors to jointly run a e1.1bn Euro-zone passive equities mandate.
There are a further seven mandates requiring managers. Among them are a e400m US equity enhanced index portfolio, a 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 and one Eurozone long bond active portfolio valued at e400m. The NTMA has chosen to manage a e1.1bn passive Euro-zone bond portfolio.