GLOBAL - A Swiss institutional investor is looking to appoint an asset manager to a €200m European equity mandate, while a European pension fund is tendering a €3bn currency hedge, using IPE-Quest.
The investor tendering QN1234 asks that interested parties have knowledge and experience in dealing with Swiss institutional clients and that any pitched strategy employs an active blend approach to allow for the strategy to adapt to market conditions, but should not include a systemic style bias.
The institutional investor has selected the MSCI Europe TR net index as a benchmark and expects an annual outperformance of 2-3%, with a tracking error of 3-8% allowed each year.
Companies should have at least €500m in a similar European equity strategy, with a track record of at least five years.
The deadline for applications is 8 May.
In other news, a European pension fund is looking to hedge as much as €3bn of its currency exposure, with a provider sought using IPE-Quest.
The currency overlay tendered in QN1235 should cover between eight and 12 currency pairs, with the scheme asking for a "passive, stable FX hedge ratio on fund level and currency pairs", although successful applicants should have experience with both active and passive mandates.
Further, the provider must be based in Europe, with its client base drawn from several countries and at least €10bn in assets under management.
Interested parties have until 11 May to apply.
Meanwhile, the £10.7bn (€13bn) Strathclyde Pension Fund has appointed GES Investment Services to take on its environmental, social and governance (ESG) engagement issues.
The Swedish company will tackle not only engagement with corporates but also liaise with the local authority scheme's fund managers to "ensure minimal impact on the investment process".
Richard Keery, investment manager at the fund administered by Glasgow City Council, said the appointment would "facilitate a step change" in its responsible investment strategy, as well as its support of the UN Principles for Responsible Engagement.
He added: "The collaboration between GES and the fund's investment managers and other institutional investors promises a long-term commitment to engagement and to secure sustainable value through addressing areas such as the environment, climate change, labour standards and human rights."
Fredric Nyström, engagement coordinator at GES, said the two-way engagement approach was a cost-effective alternative for many investors.
"Pooling the investment together with other investors via a third-party engagement overlay enhances their impact as shareholders, and it is also in line with their fiduciary duty according to the UK Stewardship Code," he said.
The announcement comes after GES yesterday was appointed by AP7 to provide similar services.
Finally, Denmark's Kirstein will assist the Swedish buffer fund AP7 in tendering for an external alpha manager for the AP7 Såfa fund, the life-cycle option.
The pure alpha mandate is expected to be published by the end of next month, according to Kirstein, with all submissions presented to the buffer fund by November.
Kirstein chief executive Jesper Kirstein said he was "proud and delighted" to have been appointed by the fund, which acts as the government-backed default option for premium pension savers in Sweden.
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.
No comments yet