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Pension fund tenders US high-yield bond mandate using IPE-Quest

A pension fund is searching for asset managers to run a $150m (€131m) US high-yield bond mandate, according to manager search service IPE-Quest.

The unnamed pension fund is looking for a manager employing an active process, using the Bank of America Merrill Lynch US high-yield 2% issuer-constrained index.

Managers responding to the quest are expected to have at least $2bn under management for this strategy and $20bn under management overall.

It is essential they have experience with managed accounts and segregated accounts as investment vehicles, according to the search.

The deadline for data to be submitted is 19 February.

Meanwhile, a pension fund is seeking a manager for a $150m global emerging markets corporate bond mandate, also using IPE-Quest.

The pension fund is also unnamed, but the deadline is the same – 19 February – for submission of data.

The mandate includes investment grade and high-yield bonds, and is to be run with an active process.

The benchmark is to be 100% of JPMorgan’s Corporate Emerging Markets Index.

Again, managers applying should have at least $2bn under management in the strategy and more than $20bn overall.

The investment vehicle for the mandate could be a managed or segregated account or a mutual fund.

Tracking error should be a maximum of 4%, and the information ratio at least 0.25 over three and seven years, according to the search.

In a third quest with the same deadline, a pension fund is looking for managers to run a €150m mandate for high-yield bonds within Europe, using an active process.

The benchmark is to be 100% of the Bank of America Merrill Lynch Euro high-yield constrained index.

Managers should have at least €2bn under management in the strategy and €20bn in overall assets under management.

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IPE QUEST

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

  • QN-2467

    Asset class: Search for a broker (mainly ETFs).
    Asset region: Global.
    Size: 250m.
    Closing date: 2018-08-28.

  • DS-2468

    Closing date: 2018-08-24.

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