IPE-QUEST: Swiss bond and equity mandates
SWITZERLAND - Swiss pension funds are looking for investment managers to handle high yield bond and global equity mandates, using IPE-Quest.
The first search, QN856 , is for a high yield bond manager and states around CHF 150m (€91.5m) is to be invested in an existing actively-managed global high yield bond fund.
The mandate will be benchmarked against the Lehman Brothers US corporate high yield or a similar index.
"It is expected that the selected investment manager will outperform the benchmark by an average of 100 basis points per year over a cycle of four years," said the pension fund in the search.
The universe includes any non-investment grade bonds from a corporate issuer. Convertible bonds and emerging market bonds are not part of the universe.
Only managers with a fixed all-in fee, but charging no performance fee, can apply.
In the second search, QN857, a Swiss pension fund is seeking a global equities manager for a CHF 80 - 250m mandate.
This mandate will be benchmarked against MSCI World (ex Switzerland) all countries TR Index, with a tracking error of 1.5%-2% per annum.
The bond manager search closes September 21, while QN857 closes September 13.