HONG KONG – A Hong Kong insurance company has tendered around 700 million HK dollars (72.8 million euros) in investment-grade debt via IPE-Quest.
The mandate is to manage a portfolio of HK dollar-denominated debt, with an initial fund size of around 700 million HK dollars.
The objective of the portfolio is to attain a rate of total return, including capital appreciation and income, that exceeds that of the established benchmark index – which has yet to be decided.
Capital gains and losses must be within +/- two percent of assets and the portfolio should be managed to maintain an average quality of AA-. The assets must be denominated in HK Dollars.
The closing date is January 22.