IPE QUEST - A pension fund is looking to invest as much as $100m (€75m) into emerging market high-yield bonds, while a Danish investor is increasing its Asian equity exposure by $50m, using IPE Quest.
In mandate QN1146, an industry-wide pension fund is looking to invest between $50m and $100m in high-yield corporate bonds from emerging market countries.
Any investment manager should employ an active management approach, using either a broad or diversified version of JP Morgan's Corporate Emerging Market Bond index (CEMBI) as a benchmark.
The chosen fund should initially invest the majority of assets in US dollar denominated emerging market high-yield corporate bonds, with only a small amount of local currency exposure.
Additionally, no stressed or distressed bonds will be allowed as part of the fund.
The investor adds: "Investment philosophy and process could be a combination of a bottom up/top down approach. The manager should be able to demonstrate strong credit analytical skills as a way of selecting the preferred companies/bonds to the portfolio."
The European pension fund concedes that this is a relatively new asset class and will therefore not place any further restrictions on the investment manager other than a preference for a company with a minimum of one year's experience.
There are no demands made on total assets under management, either for the fund or company.
Interested parties should submit their performance data to the end of September, gross of fees, by 14 January 2011.
The second mandate, QN1147, sees a Danish institutional investor looking to invest $50m in emerging market Asian equities.
The investor would like a fundamental investment approach, with the MSCI emerging market Asia index applied as a benchmark.
No minimum track record is required for this mandate, and interested parties should therefore state their performance gross of fees as of the end of October.
Applications are due by 9 December.
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 direct from IPE Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email firstname.lastname@example.org.