The service shall cover ongoing advisory services for asset management of the pension fund's combined funds, including all regulatory reporting, risk reporting, stress testing. The Consultant shall aid in the development of risk strategies, Asset management strategies to be undertaken annually by PKH's management. Advisor shall also aid with evaluation of all management mandates in agreement with PKH's administration. The assignment will also include screening and assessing of possible suppliers of management services and determining of mandates. The advisor shall cover all asset classes permitted for pension funds, including shares, fixed income, real estate, derivatives and different instruments within alternative investments. Advisor must also have a license to manage the pension fund's fund so that the advisor can undertake the management if there is a need for PKH.