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Mandate roundup: IPE-Quest, Havering, Baillie Gifford, Alliance Bernstein

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  • Mandate roundup: IPE-Quest, Havering, Baillie Gifford, Alliance Bernstein

EUROPE - A European institutional investor has tendered a mandate for the management of a $200m (€160m) global emerging markets equity portfolio, using IPE-Quest.

The portfolio is to be managed actively, using the MSCI Emerging Markets Daily Net TR EUR as the benchmark, according to search QN 1241.

Candidates must have track record of at least five years. They should state performance to March 31, 2012, with data supplied gross of fees, according to the search.

The institutional investor is looking for the portfolio to be treated as a segregated account, with the company managing at least $1bn in global emerging market equity and $2bn in assets overall. The closing date for applications is June 15.

Meanwhile, the London Borough of Havering pension fund has appointed five investment managers in a framework agreement for a range of mandates totalling between £60m (€74m) and £70m.

Managers Baillie Gifford, Walter Scott Global Investment Management, Kleinwort Benson Investors, M&G Investments and Sarasin & Partners were shortlisted from 12 applicants.

The UK local authority said in the initial tender was looking for a number of unconstrained, long-only active global equity managers.

The stated investment objective was substantial outperformance of the MSCI AC World Index provisionally, with a guideline target in excess of 2.5% to 4.0% measured over three-year rolling periods.

The framework period is four years, and within that, the pension fund said single or multiple mandates may be awarded - concurrently or consecutively.

According to minutes from a recent pension committee meeting, Havering selected Baillie Gifford to oversee the full mandate, with the company replacing Alliance Bernstein as the fund’s global equities manager.

The IPE.com news team is unable to answer any further questions about IPE-Quest 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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  • QN-2503

    Asset class: Equities.
    Asset region: Emerging Markets.
    Size: EUR 30m.
    Closing date: 2019-01-31.

  • QN-2505

    Asset class: Real Estate Core/Core-Plus Multi-sector strategy.
    Asset region: Asia-Pacific.
    Size: $ 50m.
    Closing date: 2019-01-28.

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