A Swiss pension fund has tendered a $200m (€146m) high-yield corporate debt mandate using IPE-Quest.
According to search QN1377, the applicant must meet the following minimum criteria to be considered.
First, the asset manager must have a “demonstrable fiduciary investment management mindset”, and the “focus of the organisation should be on institutional money management, with experience in managing segregated accounts and the willingness to offer such accounts to new clients”.
Second, the manager must be supervised and authorised by an official regulatory authority, and familiar with the BVG and BVV2 regulations for Swiss pension funds.
Third, the applicant must be in compliance with a verified Performance Reporting Standard for all performance data submitted.
And fourth, the place of jurisdiction for any inquiries should be Switzerland.
The mandate calls for the use of the Barclays Capital US Corporate High Yield Bond index as benchmark, with a minimum 0.5% tracking error.
Interested parties must have at least $1.5bn in assets under management (AUM) for the mandate and $5bn in AUM for the company itself.
They should also have a track record of at least three years, preferably six.
Managers should state performance, gross of fees, to the end of December 2013.
The closing date for applications is 24 January.
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 directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.
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