JPMorgan Worldwide Securities Services has won a mandate to provide property and private equity fund accounting and administrative services for the National Pensions Reserve Fund (NPRF), Ireland’s state pension reserve fund.
The mandate was awarded by the National Treasury Management Agency, which manages the NPRF. The fund was valued at €18.8 billion at the end of 2006. The National Treasury Management Agency projects the value of the NPRF’s property and private equity portfolios will be at least €2 billion each by 2009.
“We are delighted to be working with the National Pensions Reserve Fund in Ireland and begin providing them with fund administration services, starting with property and private equity fund services,” said Benjie Fraser, head of relationship management and sales for pension funds and charities at JPMorgan Worldwide Securities Services in the region. “This mandate is part of JPMorgan’s innovative move to support pension funds in Ireland and across the rest of Europe.”