Dutch institutional investors tender $400m in debt mandates
EUROPE - Two Dutch institutional investors are tendering mandates worth a combined $400m (€308m), looking to invest in both high yield and emerging market debt, using IPE Quest.
As part of the first mandate, QN1229, the unnamed Dutch insurer is looking to invest $200m in high yield US debt, with no use of derivatives within the portfolio allowed.
Parties interested in winning the mandate should employ an active management approach, with the Barclays Capital High Yield 500mm index applied as a benchmark.
While the investor has not yet decided on a minimum and maximum tracking error, it asks that the asset manager have at least $1bn in assets under management (AUM) on a similar mandate, with at least $2bn in AUM for the company overall.
Furthermore, it should have a minimum track record of at least five years within the field.
Companies should state their performance net of fees to the end of last year and submit their application by 16 March.
Many of the technical specifications in mandate QN1230 are similar, with the asset manager once again asked to have at least five years experience and $2bn in assets under management, with at least half of that invested in local emerging market debt.
The $200m mandate again would exclude the use of derivatives, with the JP Morgan Government Bond Index-Emerging Markets index used as a benchmark.
Submissions, again due by 16 March, must be made stating performance net of fees to the end of last year.
The IPE.com news team is unable to answer any further questions about IPE-Quest 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 email@example.com.