A Scandinavian pension fund and a UK-based institutional investor have put out to tender a large cap value equities mandate and a global high yield corporate bonds mandate, respectively, via IPE Quest. 

According to search QN-2613, the Scandinavian pension fund expects the mandate to have a size between $300-500m (€262-436m), “depending on the market environment”. 

The investor specified that the MSCI AC World Index should be the primary index, and that “the secondary benchmark can be discussed”. 

The pension fund is interested in long-only, actively managed products with a fundamental investment approach and an active share above 80. Managers should have a track record of at least three years. 

The deadline for applications is 7 August at 5pm UK time. Applicants should state performance data to 30 June 2020, gross of fees.

Global high yield search

The UK-based investor is seeking a manager to handle a global high yield corporate bonds mandate for £150-300m (€165-330m).

According to search QN-2614, the investor has a preference for a developed markets, issuer-constrained, BB/B benchmark.

The investor has explained that it wishes to avoid strategies that invest “meaningfully” in emerging markets to avoid doubling up exposures.

“The desire is for the asset manager to make investment decisions not influenced by large fallen angels which may skew investment based on significant benchmark weights, hence the preference for an issuer-constrained benchmark,” it said.

There are no guidelines for risk/return profiles.

Managers should have at least £1.5bn in assets under management as a firm, and at least £1bn in high-yield debt strategies. 

Ideally they should have a track record of at least five years. Performance should be stated to 30 June 2020.

Applications are due by 24 July 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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