The National Pensions Reserve Fund (NPRF) is to undergo its first independent investment performance review. The fund, which was established in 2001 to supplement the current public pension system from 2025 until at least 2055, had grown to over E21 billion by the end of June, 2007, and latest figures show it grew by seven per cent in the first half of 2007.
The National Treasury Management Agency (NTMA), which is responsible for over-seeing the fund, has put out to tender a request for a service provider:
(i) to carry out an assessment of the investment performance of the NPRF over the period April 2nd, 2001 to December 31st, 2006, in particular to evaluate:
- strategic asset allocation decisions made
- the implementation of the Fund’s investment strategy across the Fund’s various asset classes
(ii) to submit a report based on the findings of the review to the National Pensions Reserve Fund Commission.
The fund is currently invested in equities, currencies, bonds, property and private equity. |
