IPE QUEST - Nordea Fund & Manager Selection are searching for a global emerging market bond manager, using IPE Quest.
Nordea is looking to recruit a sub-advisor for a SICAV based in Luxembourg investing in corporate bonds in emerging market countries.
While the fund will initially only be seeded with €50m, the mandate expects the figure to grow rapidly due to the name recognition that comes with the Nordea brand.
The private bank tendering the mandate expects managers to use the JP Morgan CEMBI Global Diversified index as a benchmark, with short-selling and leverage expressly prohibited.
The tender notice QN1163 says further: "We fully acknowledge this is an asset class in its infancy, and there are, therefore, no formal requirements to the length of the track record.
"Managers without a dedicated track record are more than welcome to participate. If so, they are expected to show strong capabilities within either emerging market debt or developed investment grade/high-yield corporate debt."
However, regardless of which product is put forward by a manager, they will be expected to provide arguments as to why it will resemble investing in global emerging market corporate bonds.
Meanwhile, a second search launched by an investment consultant in Scandinavia is looking to place a $40m (€30m) global equity mandate.
In search QN1165, the consultancy wishes to invest the funds in preferably large-cap equity, but will consider exposure to all types, with the MSCI All Countries Equities World index applied as a benchmark.
Applicants should employ a core investment approach, managing the funds actively, and be able to employ a negative screening for socially responsible investments.
While no minimum limit is set on assets under management for the area, managers should have at least three years of experience, submitting their performance gross of fees as of the end of 2010.
Interested parties should apply for Nordea's search by 24 February, while the deadline for QN1165 has been set as the end of the month.
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.