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IPE-QUEST: global commodities mandate

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  • IPE-QUEST: global commodities mandate

EUROPE - A continental European pension fund has said it is looking for managers for a $50m (€32.6m) global commodities mandate, using IPE Quest.

In the search, QN926, the fund says: "The strategy should have at all times a net long exposure of 100% to the commodity market (the beta to the commodity market should be around 1)."

The fund says it is open for discussion on the index to be used as benchmark, although it should be a commodity benchmark like the S&P GSCI or DJ AIG, rather than a cash benchmark.

The tracking error guidelines lie between a minimum of 1% and a maximum of 10%.

The minimum assets under management (AuM) for the mandate have been set at $500m, while the minimum AuM for the firm should be $1bn.

Stated closing date for applicants is March 25, 2008.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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