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Tuesday, 23rd April 2024
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Pension fund awards $300 million in mandates Back  
The Irish National Pension Reserve Fund has awarded two new mandates to Detusche Asset Management (DeAM) and UBS Investment Management.
DeAM will manage a new €200 million active eurozone corporate bond portfolio, and UBS Asset Management is to take on a €100 million US small cap active equity mandate. The benchmark for DeAm’s mandate is the Lehman Lehman Euro Aggregate Corporate Bond, and for UBS’s mandate, it is the Russell 2000.

The tender is ongoing for an additional EAFE small cap active equity mandate.

The fund, which was established to meet the shortfall in Irish pension provision, posted growth of 2.7 per cent, and was valued at €10.1 billion at the end of the first quarter of 2004.

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