Public Market Investment Managers
The Fund's long-term strategic asset allocation is broken down for investment purposes into a number of investment mandates. In most cases the Commission has outsourced the management of these mandates to specialist investment management institutions.
Mandates are managed within guidelines and parameters set down by the Commission. Tactical and stock level investment decisions are delegated to the individual managers. Investment mandates may be passive (where the manager's target is to reproduce the return to a specified market index) or active (where the manager's target is to outperform a specified market index). Active managers are engaged where there is a reasonable expectation that they can add value over and above any extra costs incurred.
The list below is the list of Investment Managers who were managing assets of the Fund as of 31 December 2011.
PASSIVE EQUITY
|
Index Managers
|
|
|---|---|
| Blackrock Investment Management | |
| State Street Global Advisors Ireland Ltd. |
ACTIVE EQUITY
|
Mandates
|
Manager
|
|---|---|
| Pan Europe | Oechsle International Advisors |
| Pan Europe | Putnam Investments |
| Global | Generation Investment Management |
| North American Growth | Goldman Sachs Asset Management International |
| Pacific Basin | Schroder Investment Management |
| EAFE Small Cap | Acadian Asset Management |
| Global Emerging Markets | Batterymarch Financial Management |
| Global Emerging Markets | Principal Global Investors (Europe) |
BONDS
|
Mandate
|
Manager
|
|---|---|
| Active Eurozone Corporate | DB Advisors |
GLOBAL TACTICAL ASSET ALLOCATION
|
Mandate
|
Manager
|
|---|---|
| Absolute Return | Bridgewater Associates |
| Active Currency | JP Morgan Asset Management |
TRANSITION MANAGERS
|
Manager
|
|---|
| Nomura International |
| State Street Bank Europe |
| Citigroup |
