GERMANY - A German pension fund has said it is looking for managers for a €50m European convertible bonds mandate, using IPE-Quest.

The quest, QN938, was placed by an investment consultant on behalf of the fund, and states the manager is expected to outperform through active bond picking and country allocation.

The mandate must be invested in a listed mutual fund, a pooled product or a segregated mandate but only investment grade bonds are allowed within the holdings.

Derivatives are not allowed, according to the search, with the exception of forward rate agreements for currency hedging.

The stated benchmark is JACI Europe or UBS Convertible Bond Index Europe.

The consultant states the return target is 100 basis points above the index (net of fees) annually.

Manager must show a special experience in this area with at least between three and five years' experience.

Closing date of this search is May 30.

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