| NTMA seeks external transition expertise |
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The National Treasury Management Agency (NTMA) is setting up a transition manager panel in a move to minimise costs. The agency is currently looking to recruit external individuals to sit on the panel. They will be appointed for four years to help the NTMA, which runs the €18.8bn National Pension Reserve Fund (NPRF), make the transition of assets in the fund more effective.
The members of the National Pensions Reserve Fund Commission are appointed by the Minister for Finance. Under the National Pensions Reserve Fund Act, the Minister may only appoint people with substantial expertise and experience at a senior level in a number of specified areas as follows:
• Investment or international business management
• Finance or economics
• The law
• Actuarial practice
• Accountancy and auditing
• The civil service
• Trade union representation
• The pensions industry
• Consumer protection
The Commission controls and manages the fund with discretionary authority to determine and implement the fund's investment strategy.
Last month, the NTMA tendered for shareholder engagement and proxy voting services across the fund's ?14.5bn global equity portfolio in order to incorporate environmental, social and corporate governance factors into its overall management. |
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| Article appeared in the March 2007 issue.
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