India’s Pension Fund Regulatory and Development Authority issued an RFP for three money managers to oversee the pension assets of government employees in the 127.7 billion Indian rupee ($2.6 billion) National Pension Plan, Mumbai.
The assets currently are managed by LIC Pension Fund Ltd., SBI Pension Fund Ltd. and UTI Retirement Solutions Ltd.; their contracts expire March 31, and all three are invited to rebid, according to the RFP. The contract is for three years.
How the money will be divided among the chosen managers has not been determined.
The RFP can be issued on the PFRDA website.
Proposals are due at 4 p.m. IST March 15. PFRDA will issue letters of intent to selected managers on March 29.