Danish scheme seeks bond manager
DENMARK - A Danish pension fund has said it is looking for a manager for a €100m global high yield bond mandate, using IPE Quest.
In the search, QN988, the fund states the mandate should be invested in the developed world under active management, ungeared, though derivatives are allowed.
The fund suggests a global high yield index including financial as a benchmark, though request proposals from the managers.
Tracking error guidelines of the quest lie between 1% and 6%.
The fund would also like the performance relative to the benchmark for the 1-5 years period.
"We would like the interval (min./max) for the interest duration for the portfolio for each year for the last five years, and the min and max limits for the interest duration if so exists," said the fund.
The closing date for the search is January 19.