EUROPE – A Swiss pension fund is looking for a manager to oversee a $175m (€133m) global hedge fund portfolio, using IPE-Quest.

According to search QN1267, the scheme is looking for exposure to diversified funds of funds, saying that a multi-strategy approach with strong focus on capital preservation would be the preferable solution.

Managers will be expected to outperform US LIBOR by 4% per annum and should preferably have a seven-year track record, with at least five years' experience required.

The company should further have at least $1.5bn in assets under management across the company and have an office no further than six hours' flight time from Switzerland.

Interested managers have until 4 January to register their interest, stating their performance net of fees to the end of September.

In other news, the Clwyd Pension Fund has appointed Aberdeen Asset Management to oversee its new frontier market portfolio.

The £7m (€8.6m) award, part of the £1.3bn local authority scheme's 42% exposure to alternative assets, will see Aberdeen invest mostly in frontier equity.

However, the manager is also allowed to consider debt and property opportunities.

Aberdeen beat a dozen other managers in winning the award from Clywd, first tendered by the fund's administering authority Flintshire County Council in February.

MSCI's frontier market index currently includes countries such as the United Arab Emirates, Qatar, Vietnam and Pakistan, as well as countries in Europe such as Croatia, Estonia and Lithuania.

Clywd won a Bronze Award at the recent IPE Awards in Copenhagen for its alternative investment strategy and was also named Best Public Pension Fund at the ceremony.

Finally, P-Solve has been appointed to act as fiduciary manager for the £41m (€50m) pension fund for UK charity NACRO.

The manager was a few months ago named fiduciary manager for the £800m AgustaWestland pension fund.

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 3465 9330 or email jayna.vishram@ipe-quest.com.

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