A European pension fund is tendering a $10m (€7.7m) high-yield debt mandate, using IPE-Quest.
The fund behind search QN1450 said it would consider exposure to a high-yield bond fund with a US, European or global investment strategy, as long as it were actively managed.
The scheme said it expected at tracking error of at least 2%, but not exceeding 9%, for the mandate.
However, it added that the guideline was a “soft” limit.
Managers will be permitted to propose benchmarks, with firms in charge of at least $250m in high-yield debt mandates able to apply.
The European scheme did not specify a minimum asset floor for the manager as a whole.
Any fund should have at least a three-year track record, although a five-year track record is preferable.
Managers have until 30 September to apply, stating gross-of-fee performance to the end of 31 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 jayna.vishram@ipe-quest.com.
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