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Swiss pension fund seeks global commodities managers

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A Swiss pension fund has tendered for two direct global commodities mandates for worth up to CHF300m (€265m) via IPE Quest.

According to QN-2496, the investor is looking to select two managers for mandates of CHF100m-150m each. 

It is seeking an active commodity investment approach with a tracking error in the range of 2-6%.

The benchmark should be the Bloomberg Commodity ex-Agriculture and Livestock Total Return index, which reflects the return on fully collateralised futures positions and is quoted in dollars.

The pension fund has stipulated that managers must have integrated collateral management and cash flow management, and no credit risk in the collateral.

They should have at least CHF1bn invested in the asset class, and CHF5bn in total company assets under management. The pension fund requires a track record of at least three years, although it would prefer one of at least 10 years.

It has specified as “optional” items such as selection optimisation, and also said managers could hold collateral in Swiss francs if their benchmark was hedged in the currency.

Interested parties should state performance gross of fees to 31 October.

The deadline is 12 December at 5pm UK time.

The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation 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-2570

    Asset class: Direct Real Estate.
    Asset region: Europe excluding Switzerland.
    Size: 150m.
    Closing date: 2019-10-30.

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