Mandate roundup: IPE Quest, Central Bank of Ireland, EirGrid, EY
An Austrian pension provider is tendering for a fixed income fund wrapper, using IPE Quest.
As part of search QN-2152, the Austrian institution said it was aiming to pool part of its fixed income assets and therefore sought an experience provider of fund wrappers to screen €500m worth of assets.
“We envisage an initial allocation of €500m in assets to the fund wrapper, which should be able to replicate the entire fixed income and credit spectrum,” the tender states, noting that the wrapper should cover individual securities, sub-funds, structured products including securitisations and all forms of derivatives.
Interested parties should answer the provider’s questionnaire in German by 19 February.
Meanwhile, the Central Bank of Ireland is tendering for actuarial and consultancy services.
The bank’s defined benefit (DB) fund, established in 2008, is inviting up to five companies to apply for the vacant positions, as it seeks to ensure compliance with its reporting obligations and meet best practice standards.
Interested parties have until 29 February to apply.
In other news, EirGrid is tendering a framework agreement for actuarial and pension consultancy services.
The state-owned operator of Ireland’s electricity grid said it was tendering two separate mandates – both concerning its pension fund in the Republic of Ireland, and one covering a DB and defined contribution (DC) fund sponsored by its wholly owned Northern Irish subsidiary SONI.
The first lot would be for pension administration and actuarial and consultancy services for the EirGrid Pension Fund and its counterpart sponsored by SONI.
The second deals more broadly with consultancy, advisory and actuarial services directly to the sponsor.
Both lots would run for an initial term of five years, with potentially three one-year renewals.
Interested parties have until 3 March to register their interest.
Lastly, Ernst & Young has won a contract from the European Commission to research the approach to decumulation across seven EU markets.
The Directorate-General for Financial Stability, Financial Services and Capital Markets, overseen by commissioner Jonathan Hill, launched the tender last August to study the “performance and adequacy” of pension decumulation in Germany, France, the Netherlands, Poland, Slovakia, Spain and the UK.
Ernst & Young beat competition from two other bids to win the €75,000 contract.