SWITZERLAND – AHV Ausgleichsfonds, the administrator of the reserve fund for the Swiss Federal Social Security System, has tendered around CHF150m (€95.9m) in passive Asia Pacific real estate via IPE-Quest.
The tender (QN634) calls for a three-year track record, total assets under management of CHF5bn and CHF0.5bn in AUM in the strategy. The portfolio management team must have been in place for three years.
“In some specific cases where exceptions can be justified, proposals not meeting all the above mentioned criteria may also be considered.”
“The investment manager selected as a result of this search process will be a fiduciary of AHV and have discretionary authority with respect to the mandate according to AHV’s guidelines,” the brief adds.
All performances will be calculated net of fees, securities lending is forbidden and all cash deposits are held with the custodian.
The benchmark is the EPRA/NAREIT Asia TR Index in USD.
The closing date is June 9.