Insurer tenders mandates via IPE-Quest
UK – An insurance company multi-manager in the UK has tendered two segregated mandates via IPE-Quest for sterling credit and European bonds worth more than 50 million dollars apiece.
The 50 million dollar sterling credit mandate “will be managed against the Merrill Lynch Sterling non-Gilts index”.
The 50 million dollar European aggregate bond mandate is to be managed against the Lehman Pan-European Aggregate Index. “Target performance is 75 basis points per annum net.”
Managers should submit performance data for a European Aggregate fund for up to five years.
Closing date for both is April 14.