NPRF to make S&P investments

THE National Pensions Reserve Fund (NPRF) has awarded new passive equity mandates and plans to invest €590 million in two S&P 500 index-plus products and €190m in currency funds.

“The NPRF has awarded two core passive equity mandates to the following managers: Bank of Ireland Asset Management/State Street Global Advisors and Barclays Global Investors,” the NPRF said.

Each manager will manage around €3 billion of NPRF assets. The fund was set up in 2001 to help meet the country’s future social welfare needs.