The board of directors of the Fondo Pegaso following a meeting this week has decided to add an investment segment to its strategy and issue tenders for bonds and multi-asset mandates.

The fund is currently divided into three investment segments – guaranteed, balanced and dynamic – for a total of approximately €1.3bn in assets. However, in this week’s meeting, Pegaso’s board of directors decided to create an extra investment segment to the fund – growth – following the closure of its dynamic 2 segment earlier this year.

The scheme plans to select three managers for an active bond aggregate strategy. Each selected asset manager will manage a mandate for the fund’s balanced segment, of an amount initial estimated at €185m.

Pegaso also plans to appoint one manager for two semi-active multi-asset type mandates. The selected firm will manage a mandate for the balanced segment of an initial amount estimated at €85m, and one for the growth segment with an initial amount estimated at €80m.

The contracts will be for a duration of five years, the tender notice stated, adding that each assigned manager must respect the investment guidelines envisaged by the fund’s sustainability policy.

It also stated that participating firms will need to manage third party assets of at least €10bn and can participate in both lots of mandates.

Interested parties have until the 21 November to apply online or by email.

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