A pension fund is looking for an investment manager to run a local currency, global emerging market debt mandate, using IPE-Quest.
The total €700m portfolio may be run by a single manager, or split into two.
It will be run as a segregated portfolio in local currencies, unhedged.
The required investment style is broadly diversified.
Eligible investment instruments are sovereign bonds of selected emerging countries, denominated in local currencies.
Derivatives will be used only for efficient portfolio management.
According to search QN1373, the successful manager will use an enhanced passive process, with a tracking error of between 50 and 300 basis points.
The benchmark will be the JP Morgan GBI-EM Global Diversified, or a similar index, although more fundamental benchmarks may be considered.
The search is being conducted by a Continental European pension fund.
The closing date for responses is 17 January.
Meanwhile, the search is also on for an investment manager to run a global insurance-linked securities mandate, using IPE-Quest.
A pension fund is looking for one or two managers to run a €350m segregated portfolio.
Search QN1374 specifies a broadly diversified investment style but only including natural perils (non-life).
The portfolio will invest in public catastrophe bonds, although at a later stage private transactions may or may not be added.
The pension fund is seeking a manager using an active/passive/enhanced process.
The mandate benchmark will be the Swiss Re Global Cat Bond index, cash plus 3-5% or similar.
The portfolio will use any developed markets currency, externally hedged to the euro.
The search is being conducted by a Continental European pension fund.
The closing date for responses is 17 January.
Lastly, M&G Pooled Pensions has retained the mandate to run the investment portfolio of the Northern Ireland Assembly Members Pension Scheme.
The scheme, which has around 100 active members and a further 100 who are deferred members or retired, had invested assets valued at £18.9m (€23m) as at 31 March 2012.
The total fee for the contract is estimated at £700,000 excluding VAT.
The contract was awarded by the Northern Ireland Assembly Commission on behalf of the Trustees of the Assembly Members’ Pension Scheme.
According to the Official Journal of the European Union, four other parties also submitted tenders.
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