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Pension fund tenders $10bn currency overlay mandate using IPE-Quest

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  • Pension fund tenders $10bn currency overlay mandate using IPE-Quest

EUROPE - A European pension fund is tendering for a $10bn (€8.1bn) currency overlay, using IPE-Quest.

Search QN1247 - the largest conducted in the manager search facility's history - is on behalf of a European pension fund, with the overlay meant to address its global currency exposure.

Despite the overlay's size, the scheme is only seeking managers with $3bn in similar mandates, with no overall restriction on assets under management.

However, the manager should possess a three-year track record, managing the scheme's exposure both passively and actively.

Managers should not exceed a 1% tracking error over the one-month currency forward rate and should state performance to the end of May, gross of any fees.

Interested parties should contact IPE-Quest by 26 July.

Previous currency overlays conducted through Quest include a €2bn non-euro hedge in March last year, with a European scheme tendering a €3bn currency hedge earlier this year.

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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IPE QUEST

Your first step in manager selection...

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

  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

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