Kazakhstan National Fund, Almaty, issued two RFPs for at least two global equity managers to run a total of $400 million, according to Anuar Izbassarov, chief of the risk and analysis division at the National Bank of Kazakhstan which manages the $23 billion sovereign wealth fund.
The portfolio will be split evenly between active and passive strategies.
Part of the new external managers responsibilities will be to act as an adviser on model building, risk management, technology, systems and other (related) issues, according to the RFPs.
Funding will come from terminated managers that ran global equity and fixed-income portfolios. Mr. Izbassarov would not say which managers were terminated or why.
Proposals are due July 5. Further information can be obtained via e-mail at [email protected]
The search is being conducted internally.