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Swiss pension fund tenders $4bn currency overlay mandate

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A Swiss pension fund is seeking ideas for a potential $4bn (€3.5bn) currency overlay mandate via IPE Quest.

Search QN-2506 is for an global overlay mandate with Swiss francs as the base currency. The main currencies the investor wants to hedge are the euro, the US, Australian and Canadian dollars, sterling and the Japanese yen.

Managers should have at least $10bn in existing overlay mandates or 10 existing clients, and a minimum track record of five years.

Performance should be stated gross of fees to 31 December 2018.

The investor emphasised that the search was a “request for information only as a first step to define our requirements and needs both in terms of possible execution setup and the management of overlay”.

“As a second step there might be an in-depth due diligence and we will contact 4-5 managers directly,” the pension fund said.

The deadline for submissions is 11 February at 5pm UK time.

Compenswiss last week launched a search for a $50m Asia Pacific property fund manager (QN-2505, deadline 28 January).

Separately, an Austrian pension fund has a manager search open on IPE Quest for an ESG-tilted emerging markets mandate (QN-2503, deadline 31 January).

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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