GERMANY – A German corporate investor is tendering a mandate worth $100m (€80m) plus for actively managed US high yield debt.

The search (QN642) demands that the mandate must be fully hedged into euros, but no other derivative instruments may be used.

The investor also requires that funds are fully invested with a maximum 5% in cash, and the mandate will be managed as a Spezialfond via a KAG.

Previous experience of this “will be an advantage”, said the investor.

The closing date is July 10.