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Mandate roundup: IPE-Quest, Kleinwort Benson, Russell

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  • Mandate roundup: IPE-Quest, Kleinwort Benson, Russell

EUROPE - An unnamed occupational pension fund based in Switzerland is looking to tender three new mandates using IPE-Quest.

According to search QN1252, the investor is looking for an investment manager to run a $250m-400m (€190m-305m) global, investment-grade bond mandate.

The manager will use a passive or semi-passive approach to manage the mandate in the form of an index mandate or segregated account.

Asset managers must employ the Barclays Global Aggregate Securitized benchmark and have at least $5bn in assets under management (AUM) for the mandate and $10bn in AUM for the company itself.

The minimum tracking error will be 0.2% for the passive approach and 0.4% for the semi-passive one.

The same Swiss pension fund is also seeking to appoint an asset manager to run a $500m-$1bn investment-grade corporate bond mandate.

According to search QN1253, asset managers must use a passive or semi-passive approach in the form of an index mandate or segregated account.

As with the previous search, the Swiss investor requests a minimum tracking error of 0.2% for the passive approach and 0.4% for the semi-passive one.

In its third search, QN1254, the scheme is looking to award a $1.5bn-2.5bn global, developed-markets equity mandate using a passive approach.

Applicants must have at least $20bn in AUM for the mandate and $20bn in AUM for the company itself, as well as a three-year track record.

The MSCI World Developed will serve as benchmark.

As with the other searches, interested parties should state performance, gross of fees, to the end of June.

The closing date for applications is 28 September.

In other news, the £120m (€150m) Palmer & Harvey pension plan has selected Russell Investments as its fiduciary manager.

The mandate will see Russell advise the plan's trustees on investment strategy and portfolio design, and take accountability for its implementation in the coming years.

Lastly, the €10.5bn Luxembourg state pension fund FDC has appointed Kleinwort Benson Investors (KBI), the Irish specialist fund management firm, as a standby manager to manage global equities.

The London Borough of Havering has also appointed KBI to a framework agreement to manage global equities.

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 3465 9330 or email jayna.vishram@ipe-quest.com.

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IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2474

    Asset class: All/Large Cap Equities.
    Asset region: Global Developed Markets.
    Size: $150m.
    Closing date: 2018-09-25.

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