IRELAND - The €21.3bn National Pension Reserve Fund (NPRF) is tendering €600m in emerging markets equities.

The selected managers will help increase the fund's strategic allocation to this asset class from the current 2% to 5% of total assets.

Tenderers can submit either a regional or global active management product.

"The increase in the emerging markets equity allocation reflects the opportunity to earn long-term returns in excess of those available in developed markets," the NPRF noted.

The NPRF noted its existing exposure to emerging markets, via two pooled funds, is unaffected by the tender.

If you have any comments you would like to add to this or any other story, contact Barbara Ottawa on +44 (0)20 7261 4618 or email