NTMA names final seven managers
Ireland’s National Treasury Management Agency (NTMA) has announced the final seven managers to run the unallocated E2bn of the National Pensions Reserve Fund’s E8bn in assets.
Lord, Abbett & Co has been appointed to run a E410m portfolio of north American value equities. A similar-sized mandate for growth equities has gone to Goldman Sachs Asset Management.
Invesco Institutional has been appointed to run E420m in north American enhanced index equities while both Daiwa SB investments and JP Morgan Fleming asset management have picked up Japanese equity mandates, each valued at E125m.
Schroder Investment Management (Singapore) has won a E93m Pacific basin (ex-Japan) equities mandate and the final fixed income mandate has gone to Irish Life Investment Managers who will oversee a E420m portfolio of long Euro-zone bonds.
The last tranche of appointments completes a ten month manager selection process that has seen the hiring of over a dozen investment managers, a custodian and a transition manager.
In March the NTMA 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 each picked up a E350m pan European equity mandate.
In January the agency appointed Barclays Global Investors to manage a total of E1.8bn in Euro-zone and North American passive equities as well as Bank of Ireland Asset Management and State Street Global Advisors to run a E1.1bn Euro-zone passive equities mandate between them.
The NTMA has chosen to manage a E1.1bn passive Euro-zone bond portfolio and it will make an announcement shortly on the remaining vacancies.
In March it also announced that ABN Amro Mellon would act as the reserve fund’s global custodian.