EUROPE - A Dutch pension fund is looking to hire a suitable manager for a $125m (€97m) global commodities mandate, using IPE Quest.
Information issued for QN1124 shows the pension fund would like a core management approach for the mandate, with Standard & Poor's GSCI Total Return index as benchmark.
Additionally, the investor wants daily possible liquidity from an investment in the futures market and asks that no physical investments be made, as well as no short positioning.
Managers should have at least one year of trading experience, although three is preferred, and they will need at least $2bn in assets under management to be considered.
All performance data should be supplied net of fees and cover performance until the end of August 2010, with applications due by 4 October.
In other news, Capita Hartshead has been awarded a five-year contract for pension administration services from the Environment Agency.
The company will take over pension fund administration for the agency's two local government pension schemes, which at the end of March this year had combined assets of £1.7bn (€1.9bn).
Capita won the contract based on the quality of its submission, as well as the price it stipulated for the services.
It may be awarded an additional five years upon successful completion of the current term, which runs through August 2015.
The Environment Agency currently runs one active scheme and one closed scheme, with the latter only retaining £125m of assets.
For the £1.6bn active scheme, Legal & General Investment Management has responsibility for a large share of the portfolio, managing 39.6% invested in passive index-tracking funds, followed by Standard Life Investments, which manages more than 13% of assets, comprising active UK equities.
Sarasin & Partners, as well as RCM, Royal London Asset Management and Scottish Widows Investment Partnership each takes responsibility for further mandates containing 5-8% of the schemes' assets.
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 email@example.com.