Local Funds Management (Funds/Investment Management Services to the Department of Treasury and Finance)

⁠⁠⁠The Department of Treasury and Finance (DTF) wishes to appoint an experienced fund/investment manager to manage an investment portfolio of approximately $100 million (DTF portfolio) for a period anticipated to be until December 2023 with the objective of targeting a set return as agreed between DTF and the Manager.

The portfolio is expected to be initially funded to $100 million. The investment management model for the portfolio must be structured with a target of delivering at least $113 million (after fees) to meet an external cash payment obligation in December 2023.

The Government has a low risk appetite and will work with the selected fund manager to ensure a management model that achieves the requirement for a targeted return and high liquidity.

The SA Government is committed to developing the funds/investment management industry in South Australia and contributing to that objective is a core deliverable of this procurement.

It is anticipated that the contract for funds management services will be up to a maximum of 4.5 years, subject to performance against agreed industry benchmarks.