Industry-wide fund searches for high-yield gains

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  • Industry-wide fund searches for high-yield gains

EUROPE - An industry-wide continental European pension fund is seeking to hire a global high-yield fixed income provider to manage a $80m (€51m) mandate, using IPE Quest.

Details of the tender, QN953, reveal, the actively-managed mandate is for global developed markets high-yield debt, benchmarked to the Merrill Lynch global high yield index.

The successful firm will be required to stay within a minimum and maximum tracking error of 50 basis points and 7% respectively.

Officials stress they would prefer a mandate rather than a fund and state "a thorough investment process is a must for this manager".

Minimum track record in this area is three years, though the pension fund would prefer five years, and minimum mandate for this sector is $500m along with $2bn within the firm.

All performance data must be presented gross of fees and submissions close on August 15.

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  • QN-2570

    Asset class: Direct Real Estate.
    Asset region: Europe excluding Switzerland.
    Size: 150m.
    Closing date: 2019-10-30.

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