Irish fund managers are performing extremely well in the tendering process for fund managers for the National Pension Reserve Fund of the NTMA. A higher proportion of Irish fund managers relative to the average, have made it through to the next stage. The original 574 tenders have now been whittled down to 178 applicants, and the NTMA will review these 170 applicants beginning October 22, 2001. The 16 fund managers selected to manage the National Pension Reserve Fund will be announced in two stages in mid November and mid December of this year. Frank Russell is acting as advisor to the NTMA for its fund manager selection process.
A dozen expressions of interest were received for the transition manager and global custodian. These tenders will be reviewed as of October 15, 2001. Bacon & Woodrow will advise on the global custodian, and Watson Wyatt Partners is advising the selection of the transition manager. |
