Quest begins to find commodities and GEMs
IPE QUEST - A Swiss pension fund is looking CHF400-600m (€261-392m) in commodities in a global mandate sought through IPE-Quest.
Details of QN1003 state the long-only enhanced passive portfolio must be benchmarked to the S&P GSCI energy, the S&P Industrial Metals and S&P GSCI Metals Global indices.
Interested firms must have at least $3bn in assets under management for both the firm and the mandates and should have a minimum track record of three years, though five years is preferred, and performance should be stated gross of fees to 31 December 2008.
In addition, the proposed product has to be flexible in its exposure to internal TAA decision as well as "highly transparent", according to the document, and the search closes on 7 April 2009.
Elsewhere, a Swiss corporate pension fund is also looking to invest $50m (€36.9m) in global emerging markets equities, using IPE Quest.
Information supplied in QN1011 states the all/large caps active mandate has a minimum tracking error of 3% but climbs to 8% against the MSCI Emerging Markets index.
Managers must have minimum track record of three years though the preferred is seven years, and the minimum assets under management at the firm must be $10bn.
Performance must be quoted net of fees to 31 December 2008, and documents must be presented by 3 April 2009.