This time around, we decided to focus more intensely on the value proposition and value-add the fund manager presented on a specific investment mandate. While the final selection was based on the value proposition in managing a specific mandate, capacity building remained a key consideration in our fund manager selection. Page 8 of 13  We have maintained our three-stage selection process.
In the first step, a ‘Request for Information’ is used to survey the landscape of fund managers and to identify those fund managers that have sufficient experience in the required asset classes as well as in the management of central-bank portfolios. The second stage, which takes the form of a ‘Request for Proposal’, is considerably more detailed.