Aargauische Pensionskasse (APK), the Swiss pension fund for the employees of the Aargau canton with assets worth more than €13bn, has issued a tender via IPE Quest for small cap equity.
APK is searching for an enhanced index/semi active solution to complement its existing active investment.
The fund will increase the allocation over about one year, starting at $120m and potentially increasing to $240m.
According to search QN-2788, the pension fund is looking to invest in global developed markets with a net asset value (NAV) in US dollars.
The investment is to follow the MSCI World ex Switzerland Small Cap Low Carbon Target Net Total Return USD index, the notice added.
The investment is to have a minimum tracking error of 0.5% and maximum of 1.5%, with the participating managers being able to show a minimum track record of five years, with a minimum $3bn of assets under management (AUM) for the asset class ($10bn for total AUM).
The deadline for this mandate has been set for 26 July, 5pm UK time.
Government and corporate bonds from German pension scheme
A corporate pension fund based in Germany has released several mandates through IPE Quest, including government and corporate fixed income.
According to search QN-2785, the pension scheme is seeking a manager to run a $100m US core passive government bonds portfolio.
It should follow the 100% Bloomberg US Treasury (7-10 Y) Total Return Unhedged index.
The deadline for this mandate has been set for 29 July, 5pm UK time.
There is also a €100m European core passive government bonds mandate up for grabs (QN-2784), which should follow the iBoxx Euro Germany (10+ Y) TR (EUR) index.
The deadline to participate is 21 July, 5pm UK time.
The fund is also looking to appoint a manager for a €150m core passive emerging markets investment-grade corporate bonds brief.
This should follow the JP Morgan EMBIGLOBAL Diversified Investment Grade Total Return index, according to search QN-2783. The deadline for this one is 20 July, 5pm UK time.
Another $200m US core passive investment-grade corporate bonds mandate is available, which should follow the 100% Barclays Capital US Corporate index.
The search QN-2782 has a participating deadline of 19 July, 5pm UK time.
Finally, a €200m global core passive investment-grade corporate bonds mandate, following the iBoxx Euro Corporate Overall Total Return Index, is also available.
As per search QN-2781, the deadline to participate is 18 July, 5pm UK time.
Participating managers for all five mandates issued by the German corporate pension fund will need to have experience with German KVG and Depotbank, and must show a minimum track record of three years for any of the mandates they are applying for.
They should also state performance as of 30 June 2022 and must have a minimum of $1bn in AUM.
CHF500m in global equity
Separately, a pension fund based in Switzerland has also reached out to IPE Quest seeking to invest in a global equity following a low-carbon strategy with a low tracking error (DS-2786).
Interested asset managers must have a minimum track record of two years to participate.
The deadline for this Discovery has been set for 20 July, 5pm UK time.
The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com.
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