IRELAND - The National Treasury Management Agency (NTMA) is planning to improve its futures and spot pricing decisions by appointing an external firm to take on the process.

A tender notice issued by the body responsible for managing the Irish National Pension Reserve Fund (NPRF) reveals it is looking to hire one or more "enhanced commodity index management services" to provide "innovative or structured products or services that tenderers might be able to provide".

At least €400m, or just under 2% of the €21bn pension fund, will managed by external commodities experts to see if they can improve the technical management of its asset allocation.

Tenders have to be submitted to the NTMA by November 12.