Kazakhstan central bank pension fund seeks global passive equity managers

Unified Accumulative Pension Fund, the National Bank of the Republic of Kazakhstan's 7.7 trillion tenge ($23.5 billion) pension fund, is searching for managers to run a $300 million allocation to global passive equity, the Almaty-based bank said in a tender notice.

The selected managers must have up to 10 years of experience in managing global passive equity and at least $25 billion in assets under management, including at least $1 billion in global equity portfolios, the notice said.

Candidates are expected to provide a return equal or higher to the benchmark MSCI World index, while maintaining an adequate level of liquidity and low transactions costs.

Applications should be made by May 31 via a form available in the search notice. A hiring date was not provided.

A spokesman could not be reached for more information.