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Nordic pension fund tenders high yield, commodities mandates

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A Nordic pension fund is tendering $20m (€17.7m) worth of credit and commodities mandates, using IPE Quest.

The unnamed asset owner tendered two $5m-10m mandates, building on a series of $40m worth of equity mandates previously released.

Search QN-2158 seeks to allocate towards an actively managed US high-yield credit strategy, stating that performance will be measured against a “broad benchmark covering all sectors”.

The pension fund asked that the strategy have a minimum tracking error of 1% but not exceeding 5%.

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The second search, QN-2159, is for commodities, measuring performance against the Bloomberg WTI Crude Oil total return sub-index, or the NYMEX WTI Crude or ICE Brent Crude futures market.

The fund allows for the tracking error on the commodities mandate to be significantly higher, placing an upper limit of 10%.

Interested asset managers must have at least $500m across either strategy, and total assets of $500m under management.

Additionally, they should have at least three years’ experience, but preferably five years, and submit proposals stating net of fees performance to the end of January.

Proposals for the searches must be submitted by 7 March.

The IPE 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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IPE QUEST

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IPE Quest is a manager search facility that connects institutional investors and asset managers.

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    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

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