Key Takeaways
- • Singapore's National Council of Social Service (NCSS) received 17 bids from local and foreign asset managers for a S$230 million (US$198 million) investment mandate, according to Asia Asset Management.
- • Bidders include UK-based abrdn, Germany's Allianz Global Investors, Eastspring Investments (the asset management arm of UK insurer Prudential plc), Fullerton Fund Management, and Lion Global Investors.
- • The tender closed on May 13 and was posted on GeBiz, Singapore's e-procurement portal for public sector tenders.
- • The winning bidder or bidders will be appointed for a three-year term starting July 1, with an option for a two-year extension.
Summary
Singapore's National Council of Social Service (NCSS), an umbrella body representing more than 500 social service organisations, has drawn 17 bids from local and foreign asset management firms in response to its tender for a S$230 million (US$198 million) investment mandate, according to Asia Asset Management.
The bidders include UK asset manager abrdn, Germany's Allianz Global Investors, Eastspring Investments, the asset management arm of UK insurer Prudential plc, and two Singapore-based managers, Fullerton Fund Management and Lion Global Investors. The bidder list covers a mix of global and domestic firms, reflecting the scale of the mandate.
The tender was posted on GeBiz, Singapore's e-procurement portal through which public sector tenders are issued, and closed on May 13. The winning bidder or bidders will be appointed for a three-year term beginning July 1, with an option to extend the mandate by two years.
The source article does not disclose the shortlisting process, evaluation criteria, or the fee structure, and no winner has been named at the time of reporting.
The bidders include UK asset manager abrdn, Germany's Allianz Global Investors, Eastspring Investments, the asset management arm of UK insurer Prudential plc, and two Singapore-based managers, Fullerton Fund Management and Lion Global Investors. The bidder list covers a mix of global and domestic firms, reflecting the scale of the mandate.
The tender was posted on GeBiz, Singapore's e-procurement portal through which public sector tenders are issued, and closed on May 13. The winning bidder or bidders will be appointed for a three-year term beginning July 1, with an option to extend the mandate by two years.
The source article does not disclose the shortlisting process, evaluation criteria, or the fee structure, and no winner has been named at the time of reporting.
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