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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 overlaying funding advisory work in addition to offering “assurance and steerage on greatest practices” to the boards of the 2 underlying entities.
Beneath 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.
“Nevertheless, [having two consultants] will not be very environment friendly and we’re very open to at least one agency performing each roles so long as we’ve got confidence that the agency can efficiently mitigate that potential battle via 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 yr for the overall job, divided equally between the 2 capabilities.
“… 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 element “there could also be some technical peer overview of labor we’re doing on the chance budgeting part of our funding framework”, the RFP supplementary Q&A says.
“A overview of our foreign money hedging coverage and ratios is due for considered one of our entities, so we might ask the guide to both do this work or peer overview our personal work on the subject (relying on timing). There can also be some supervisor search and recommendation within the subsequent few months as properly.”
Presently, 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 workers modifications over the past yr with each CEO, Tim Mitchell, and chief funding officer, Anthony Halls, appointed final yr together with a number of different government modifications.
Mitchell was beforehand Willis Towers Watson international head of governance consulting.
Bids on the Annuitas consulting position(s) are due this Wednesday (March 20) with a remaining determination slated for April 22.
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