Danish investors to award $300m debt mandate
DENMARK - A Danish financial institution is looking for a manager to look after a $300m (€232m) hard currency debt mandate in global emerging markets, using IPE Quest.
In the search, QN993, the institutional investors stated an investment universe of global bonds denominated in US dollars, euros, pounds sterling, Swiss francs, Japanese yen, or in the local currencies of the countries that are benchmark constituents.
The preferred benchmark is the JP Morgan Emerging Markets Bond Index Global Diversified, hedged to Danish krone.
The vehicle should initially be two funds, both complying with UCITS-regulations.
The manager should submit the longest possible history of monthly GIPS composite data that provides the best possible fit with the following investment restrictions:
The investor concluded: "We do not predefine a tracking error level for the portfolios but our quantitative performance evaluation will include absolute returns, absolute volatility, sharpe ratios, and performance relative to benchmark as well as tracking error volatility."
The closing date of the search is February 9.