IPE - A Swiss institutional investor has tendered a $100m (€75m) investment-grade US corporate debt mandate, using IPE Quest.
According to Quest search QN1214, the investor is looking for an active manager with at least $1bn in assets under management and a five-year track record.
It asks that the asset manager adopt the Barclays Capital US Corporate index, or similar investment-grade index, as a benchmark, outperforming by 1-1.5% a year and with a tracking error of 2-3%.
It also asks that investment-grade positions be sold within three months in the event of a downgrade, and that a maximum 1.5% allocation be made per debtor.
Experience with Swiss institutional funds and clients will be an advantage, it added.
Interested parties have until 21 December to apply and should state all data and performance information, gross of fees, to the end of November.
In another Quest search, QN1213, a pension fund in the Nordic region has tendered a €100m inflation-linked government bond mandate, although "this is likely to double within three years due to fund growth".
The pension fund asks that the asset manager adopt the Barclays World Government Inflation-Linked Bond index.
The mandate will be long-only and must be fully invested at all times, with no leverage.
The pension fund asks for a minimum track record of three years.
Interest parties should apply by 16 January 2012.
In other news, the UK Pension Protection Fund has recruited four liability-driven managers.
Blackrock Investment Management, F&C Management, Insight Investment Management and Legal & General Assurance (Pensions Management) have been appointed to its new panel, set up to "increase flexibility" in LDI.
The PPF said the panel would also further increase the stability of its funding level and allow it to generate returns by spreading risk across a broad range of asset classes.
Lastly, Capita Hartshead has been appointed to provide central administration services, including scheme accounting and secretariat duties, to Electricity Pensions Trustee and Electricity Pensions, the central bodies of the Electricity Supply Pension Scheme.
Capita Hartshead will be responsible for overseeing all the central activities required to run the Electricity Supply Pension Scheme, including liaising with advisers, other service providers and the scheme's 23 employer groups.
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 firstname.lastname@example.org.