A Swiss occupational pension fund has announced via IPE Quest that it is looking to appoint asset managers to run several mandates bonds mandates worth up to CHF1.2bn (€1.2bn).

According to IPE Quest, the scheme is tendering a CHF300-600m emerging market debt (EMD) local currency mandate (unhedged in CHF), following the JP Morgan GBI-EM Global Diversified benchmark. The deadline is set for 12 July at 5pm UK time.

The current set up is one active mandate (search 2902) but the client might decide to change this – e.g. to one active and one passive (search 2903) mandates or just one passive.

Similarly, the pension fund is also tendering another CHF300-600m EMD hard currency mandate (search 2900 for active and search 2901 for passive), following the JP Morgan EMBI Global Diversified as benchmark. The deadline is set for 11 July at 5pm UK time.

Additionally, the scheme is tendering a CHF500-600m US high yeild bonds mandate (search 2898 for active and search 2899 for passive), following the ICE BofA US High Yield Index. The deadline is set for 10 July at 5pm UK time.

The aim is to reduce the weighted average carbon intensity (WACI) of the mandate by at least 20% compared to the given index, the scheme said. The participating asset manager would provide the latest available WACI data of both the mandate and indexes as part of its quarterly reporting to the pension fund, it added.

All three sets of mandates are part of a regular review process of the fund’s existing mandates.

The Request for Proposal (RfP) will be split in two parts:

  • RfP long list via IPE Quest
  • Follow up RfP short list by direct invitation of selected candidates by the scheme.

Participating managers have a minimum requirement of $10bn of total assets under management for each asset class and $25bn overall. 

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 further information contact IPE Quest directly.

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