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German investor seeks global fixed income manager via IPE Quest

A German investor has launched a search for a global fixed income manager to run a €30m mandate via IPE Quest.

According to search QN-2433, the allocation is expected to grow to between €500m and €1bn in the next three years.

The mandate is for a euro-denominated, actively managed core sovereign and corporate credit strategy, limited to 75-85% in corporates and 15-25% in government-related instruments.

Bonds in the strategy should not be rated lower than BBB- or Baa3 upon purchase.

Managers pitching for the mandate should state performance to 31 March gross of fees, and should have a track record of at least three years. The maximum tracking error is 4%, measured over a rolling three-year basis. 

Managers should also integrate environmental, social and governance considerations in their process.

According to the details of the search, the objective of the allocation is to outperform the benchmark net of costs by at least 50 basis points a year.

The benchmark is a blend of three indices:

  • 50% Bloomberg Barclays EuroAgg Corporate Total Return Index Value Unhedged EUR 
  • 30% Bloomberg Barclays EuroAgg Corporate 10+ Year TR Index Value Unhedged 
  • 20% Bloomberg Barclays EuroAgg Treasury Total Return Index Value Unhedged EUR

The strategy will be housed in a segregated mandate within a Master KVG structure.

The deadline for submissions is 10 May at 5pm UK time. More details are available at https://www.ipe-quest.com/ under search QN-2433.

The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com

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  • Frankfurt, Germany

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  • QN-2444

    Asset class: Trade Finance.
    Asset region: Global.
    Size: USD 10m.
    Closing date: 2018-06-25.

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