IPE QUEST - Three institutional investors, including two European pension funds, are looking to hire asset managers for specialist investment mandates, using IPE Quest.
The first of three requests for proposals (RFPs) is for an investment consultant to operate a mandate on a socially responsible basis for a UK pension fund. The others are for a value global equity manager on behalf of a Danish pension scheme, while a Swiss consultant is offering a mandate for government global debt.
Under QN1068 a UK based pension fund is offering a $60m (€42m) SRI mandate, with all asset classes under consideration and all regions considered although global, UK or Pan-Europe is preferred.
The client, who has around £300m in assets, wants to consider a wide range of investment approaches. The initial allocation is for £40m although further allocations to SRI will be considered. But at the moment the pension fund is considering mandates that would provide some diversification from its existing equity and bond holdings.
The closing date is 8 January 2010.
The second mandate (QN1069) was placed by Copenhagen-based consultants Kirstein Finance on behalf of a Danish corporate pension fund looking for an asset manager of global value equities.
Information included in the IPE Quest noted the selected asset manager is intended to act as a satellite to the pension fund's existing mandates and structures. It also requires a product offered in a UCITS fund structure accessible for the Danish pension fund.
The client is offering the mandate, valued at around $25m, with a target to outperform the MSCI World Index Index, alternatively the MSCI World Value or similar indices. Kirstein Finance also noted it would measure managers against a tailor made value benchmark.
Further guidelines for the mandate are the requirements for an actively managed long-only product - 130/30 products or similar strategies will not be accepted. In addition it warned it is not interested in index/enhanced index products, while multi-manager products will not be accepted.
The anticipated excess performance will be a minimum of 2-3% a year, but the use of derivatives is not allowed and leveraged products or funds will not be accepted.
The closing date for the search is 15 January 2010.
Meanwhile information supplied for QN1070 revealed a Swiss based investment consultant is seeking a manager to run a $50m active government global debt portfolio.
The mandate will be benchmarked against the Citigroup WGBI All Maturities and performance data should be supplied gross of fees, with the firm providing an absolute minimum track record of five years.
The closing date for the search is 14 January 2010.
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 direct from IPE Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com
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