An Italian pension fund has tendered three equity and bond mandates, using IPE-Quest.
In its first search, QN1378, the fund said it was looking to invest in Asia-Pacific equities, although it did not disclose the size of its mandate.
It said it would furthermore not seek to disqualify any asset manager by applying a minimum figure for assets under management, as it did not wish to exclude any proposals from boutique managers.
The second search, QN1379, also seeks to invest an undisclosed amount in global and European Union convertible bonds, while search QN1380 is looking for managers to oversee a pan-European equity mandate.
The pension fund has chosen not to apply any benchmark constraints on interested managers and only asks that they have at least six years’ experience in each of the three areas.
Interested managers have until 10 February to apply, providing their gross-of-fees performance to the end of 2013.
In other news, the Avon Pension Fund is on course to double its emerging market equity exposure, following the appointment of a second asset manager to oversee a £150m (€182m) mandate.
The five-year mandate, accounting for around 5% of the local authority fund’s £3.1bn in assets, has been awarded to Unigestion following a tender overseen by JLT Group.
In the initial tender, Avon said it expected a rolling three-year outperformance of 2-4% above the MSCI Emerging Markets Index.
It also said it would consider asset managers that were signatories to the UN-backed Principles for Responsible Investment as it worked towards “achieving the UN PRI standard”.
The new mandate did not come at the expense of Genesis Asset Manager’s existing mandate – at the end of March last year worth £158m – but instead comes after Avon decided to double its exposure to emerging market equities.
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 directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.
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