IN order to help diversify its portfolio and benchmark on comparative investment classes, the Social Security System (SSS) is set to contract local fund managers.
According to the SSS, three chosen fund managers will each handle a P1-billion investible fund allocated in a mix of equity and fixed income securities.
To bid for the fund management contract, the companies must be duly licensed and have at least five years in fund management experience.
The investment performance should be published in national broadsheets.
The fund managers must also have assets under management (AUM) of at least P10 billion in equities and at least P25 billion in fixed income securities as of December 31, 2013.
Deadline for submission of eligibility documents to the SSS Head Office in Quezon City is on November 18, 2014.
Appointing external fund managers by the SSS is allowed as per Section 26-A of Republic Act 8282 or the Social Security Act of 1997.