Horse Racing Ireland, Ballymany, Ireland, hired Joseph G. Byrne & Sons Consulting Actuaries to provide actuarial, consultancy services and investment management advice, a spokeswoman said.
The organization, which is responsible for the administration, promotion and development of horse racing in Ireland, hired the consultant on behalf of the €43 million ($49 million) Horse Racing Ireland and Subsidiaries Defined Benefit Pension Scheme, the spokeswoman said. It is the pension fund's first consultant.
The organization issued an RFP in January.
Joseph G. Byrne & Sons Consulting Actuaries will provide ongoing actuarial advice on pension funding, assist with a review of investment strategy and help identify alternative investments. In addition, the consultant will attend meetings with trustees and advise on any legislative changes that affect the Horse Racing Ireland pension fund.