Dutch pension fund to invest in US debt
IPE QUEST - A Dutch pension fund is looking to invest $150m (€106m) in US investment grade debt, using IPE-Quest.
Details of QN1040 state the investor is looking to hire an active manager which can deliver a 5% maximum tracking error against the Barclays Capital US Credit Total Return index.
It stresses, however, that the firm must not add any additional risk premiums to the mandate outside of those embedded in the benchmark.
The minimum assets under management (AuM) to be held for the mandate is £3bn, while the minimum AuM for the firm is to be no less than £5bn.
The pension fund is also looking for a fund manager with at least five years' experience in this market, although the preferred minimum is 10 years.
All data must be stated gross of fees to 30 June 2009 and submissions must be presented by 7 August 2009.