IRELAND - The Dublin based Irish National Treasury Management Agency (NTMA) has selected consultant Frank Russell to advise on the selection of investment managers for the e6.5bn National Pensions Reserve Fund (NPRF).

The agency has also appointed actuarial consultant Watson Wyatt to advise on the selection of a transition manager with respect to the fund.

The selections follow an international tendering competition.

The fund, which is set to increase by around IR£600m every year through contributions from the Irish government of 1% of the country’s GDP, recently selected Bacon & Woodrow to advise on the selection of a global custodian and William M. Mercer to outline the fund’s future investment strategy.

Deborah Reidy, head of investment manager selection at the fund, commented recently that the fund expected to place the mandates it was seeking in the EU journal in early July.