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RFP for External Managers of the Foreign Reserves

Since 1994 Banco de la República has been successfully running an External Management Program. The main objectives of the program are to: a) enhance the performance of Colombia’s Foreign Reserves Investment Portfolio; b) provide training and transfer knowledge to the Bank’s staff; and c) support the Bank’s research efforts and the management of the reserves where needed. The International Reserves Committee of the Bank has approved a selection process for a new external asset manager specializing in short-duration fixed income portfolios.

In order to participate in this selection process, interested firms should answer the attached questionnaire. To satisfy the minimum eligibility criteria the Candidate must meet each of the following: (1) at least US$50 billion in fixed income assets under management across the Candidate’s asset management business unit/division as of December 31 of the last five years (2016 to 2020), (2) minimum experience of 10 years in fixed income management for institutional investors across the Candidate’s asset management business unit/division as of December 31, 2020  and (3) at least US$14 billion in fixed income assets under management as of December 31 of the last five years (2016 to 2020)  by the legal entity that will, if its Proposal is selected, enter into an investment management agreement with the Bank and be responsible for the performance of all obligations under such Agreement (the “Responsible Party”). (4) an asset-liability ratio greater than one.