The selection process is likely to involve: (i) the issuance of RFP’s to selected international investment management firms; (ii) an evaluation of their investment philosophies and performance records as well as risk management and operational capabilities of these firms; (iii) paying visits to a shortlist of these managers to get a better insight into their investment processes and models.
After negotiating contracts with the selected managers, the process involves the negotiation of a Custodian who provides safe keeping for the financial assets and trade settlement services to the international investment manager. The legislation requires that close attention be paid to disclosure and accountability.