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Philippine pension fund GSIS seeks bids for 10 billion peso domestic equity mandate

GSIS
To qualify, bidders must have a minimum of 10 billion pesos in assets under management on a discretionary full-equity fund as of end-2021
By Goh Thean Eu   
February 28, 2022

The Philippines’ state-owned Government Service Insurance System (GSIS) plans to hire as many as ten local equity management companies for a domestic equity mandate worth up to 10 billion pesos (US$194 million).

GSIS, a pension fund for the civil service, says the final size of the mandate will be based on the historical performance and investment capabilities of applicants. Those currently providing fund management services to the pension fund are automatically disqualified from bidding on the tender.

The call for bids was posted in a notice on GSIS’s website.

Applicants must have a minimum 10 billion pesos of assets under management in a discretionary fully equity fund as of end-2021, total assets of at least 5 billion pesos, and a ten-year track record in domestic equity fund management.

The tender is only open to members of the Fund Managers Association of the Philippines and the Trust Officers Association of the Philippines.

Bidding documents are available until April 4 and the submission deadline is April 8.

GSIS had 1.44 trillion pesos of assets under management as of end-2020.