DENMARK - A Danish pension fund is looking for asset managers to manage a $200m (€147m) global inflation-linked bonds mandate, using IPE-Quest.
In the quest, QN973, consultant Kirstein Finance, which has posted the search on behalf of the fund, states the mandate will be seen as a separate asset class, but in conjunction with the existing nominal fixed income mandates.
"Managers shall primarily be focused on the beta elements in the portfolio, where exposure to the global market for inflation-linked bonds is important but deviations from benchmark and search for alpha is also required," said Kirstein.
There is no preferred benchmark but an application of Barclays World Inflation-Linked Bond Index, Lehman Global Inflation-Linked Index, JPMorgan Global Inflation-Linked Bond Index or similar indices fits well into the mandate, according to the search.
The investment universe, consisting of government, quasi-government issues and government guaranteed issues, focuses on developed countries globally.
The mandate will be primarily invested in longer maturities but there are no formal restrictions on individual issues. And the use of leverage is not allowed.
The deadline for participation in the search is October 24.
No comments yet