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Thursday, 23rd January 2020
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NTMA issues tender for shareholder services Back  
The National Treasury Management Agency (NTMA) has issued a mandate for shareholder engagement and proxy voting services for the National Pensions Reserve Fund (NPRF), which the authority manages.

The services are required across the fund's €14.5 billion global equity portfolio to incorporate environmental, social and corporate governance factors into the overall management of the fund, taking into account international standards and conventions as appropriate.

'These services are being sought as a means of protecting and enhancing the long-term value of the fund, consistent with the fiduciary duties associated with equity ownership and long term investing,' said the NTMA, adding that the services are to be implemented within the context of the Principles for Responsible Investment (PRI).

The NTMA has stated that it would prefer to have an integrated service solution, but it, 'recognises that no one tendering party may be able to meet all of the service requirements and, accordingly, tenders are invited in respect of either or both proxy voting or shareholder engagement services or for specified geographical areas in respect of either proxy voting or shareholder engagement services'.

The deadline for tenders is March 6th at 15.00, and the mandates will be awarded based on the most 'economically advantageous tenders'.

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