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As much as two consultancy gigs are up for grabs on the NZ authorities pension fund funding supervisor, Annuitas.
The Wellington-based Annuitas, which manages about $6.6 billion by way of the Authorities Superannuation Fund (GSF) and the Nationwide Provident Fund (NPF), put a young out final month protecting funding advisory work in addition to offering “assurance and steering on greatest practices” to the boards of the 2 underlying entities.
Below the proposal, the duties might be cut up between two completely different consultants, primarily to handle conflicts of curiosity, in response to communications with potential submitters.
“Nonetheless, [having two consultants] is just not very environment friendly and we’re very open to at least one agency performing each roles so long as we’ve confidence that the agency can efficiently mitigate that potential battle by way of the weather or construction they carry,” the Annuitas response to questions says.
Russell Investments is the incumbent funding adviser.
Annuitas has budgeted as much as 250 hours per 12 months for the entire job, divided equally between the 2 features.
“… we anticipate an association with a comparatively low retainer each year with the majority of the hours labored on a charge-out foundation,” the request-for-proposal (RFP) doc says.
The federal government pension fund supervisor additionally highlights some early duties for any profitable bidder.
For the core funding consultancy part “there could also be some technical peer assessment of labor we’re doing on the danger budgeting part of our funding framework”, the RFP supplementary Q&A says.
“A assessment of our forex hedging coverage and ratios is due for considered one of our entities, so we could ask the marketing consultant to both do this work or peer assessment our personal work on the subject (relying on timing). There may be some supervisor search and recommendation within the subsequent few months as nicely.”
At the moment, the $5 billion GSF lists greater than 20 underlying managers with the NPF (chargeable for eight government-associated outlined profit schemes) investing right into a smaller subset of funds.
Annuitas has seen important employees adjustments during the last 12 months with each CEO, Tim Mitchell, and chief funding officer, Anthony Halls, appointed final 12 months together with a number of different government adjustments.
Mitchell was beforehand Willis Towers Watson international head of governance consulting.
Bids on the Annuitas consulting function(s) are due this Wednesday (March 20) with a last determination slated for April 22.
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