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Mandate roundup: IPE-Quest, Northern Ireland Water

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EUROPE – An undisclosed corporate pension fund located in Continental Europe has tendered a $25m (€19m) global high-yield debt mandate using IPE-Quest.

In search QN1325, the investor is looking for asset managers adopting an active investment strategy.

It said it would require the asset manager to employ the BAML BB-B Global High Yield index as a benchmark.

Asset managers should have at least $500m in assets under management (AUM) for the mandate itself and $3bn for the company.

The investor also calls for a minimum track record of three years and a preferred track record of five, with asset managers sticking with a tracking error of between 0% and 3%.

Interested parties should supply performance data, net of fees, to the end of June.

The closing date for applications is 9 August.

In a separate Quest search, QN1326, the same pension fund tendered a $25m senior secured loans global mandate.

For this search, asset managers will be required to employ the S&P LSTA as a benchmark.

The investor also asked asset managers to have at least $500m in AUM for the mandate itself and $3bn for the company.

The investor also calls for a minimum track record of three years and a preferred track record of five, with asset managers keeping their tracking error between 0% and 6%.

Performance data should be stated net of fees to the end of June.

Interested participants will have until 9 August to submit their application.

Meanwhile, in search QN1327, an undisclosed corporate pension fund located in Continental Europe has tendered a $40m global listed real estate securities mandate.

The asset manager selected will have to adopt an active approach and follow the REITS Global Mandate investment style.

The investor also calls for a minimum track record of three years and a preferred track record of five, with asset managers maintaining a tracking error of between 0% and 3%.

Applicants should have at least $1bn in AUM for the mandate itself and $5bn for the company.

Interested parties should supply performance data, net of fees, to the end of June.

The deadline for this mandate is 16 August.

Finally, the Northern Ireland Water pension scheme has tendered a mandate for actuarial and consultancy services.

The tender's objective is to appoint a service provider to undertake corporate pension management services on behalf of the defined benefit pension scheme operated by NI Water Pension Trust Company.

The pension scheme also points out that it runs a defined contribution (DC) stakeholder arrangement operated by Standard Life, called the Northern Ireland Water Limited Partnership Stakeholder Scheme.

While the scheme has no members to date, NI Water said respondents to the tender should indicate their ability to provide a range of DC services should membership increase.

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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