29 Sep

Mandate roundup: Compenswiss targets $500m for EMD local currency

first_imgCredit: Waldo MiguezLuxembourgLuxembourg’s €18bn pension reserve fund has tendered out €5bn in passive equity and bond mandates on behalf of its investment vehicle, which invests the majority of the reserve fund’s assets.Fonds de Compensation (FDC) is looking to award a €1.955bn euro denominated bond mandate, a €2.285bn global bond mandate, and a €675m emerging market equity mandate.The global bond mandate requires the exchange rate risk to be hedged.A spokesman for the fund told IPE the mandates were originally awarded in 2010 and would reach their legal maturity next year.According to the sovereign investor’s 2018 annual report, Credit Suisse Asset Management currently holds the euro denominated bond mandate, BlackRock the global bond mandate, and State Street Global Advisors the emerging market equity mandate.FDC said the launch of the request for proposal was approved by the board in July. The CHF37bn (€33bn) manager of Switzerland’s social security funds is seeking to invest $500m (€449m) in emerging market local currency bonds via an actively managed fund.In a request for proposal document, Compenswiss said any emerging market bonds were eligible for the universe, with limits to apply on quasi-sovereigns, corporate bonds and non-local currency bonds.Performance would be measured against JP Morgan’s diversified global emerging market bond index (JP Morgan GBI-EM Global Diversified), with a target of annual outperformance by an average of 100 basis pints, net of all fees, over a four-year cycle.The maximum tracking error target is 5%. The deadline for initial proposals is 10 October. A “long” request for proposal document is to be released on 1 November.The search is available via IPE Quest. According to search QN-2569, Compenswiss wants managers to have at least $5bn in assets under management as a firm, and a track record of at least three years. Applicants should state performance gross of fees to 30 June. Luxembourg’s FDC tenders out €5bn trio of passive mandateslast_img read more

22 Dec


first_imgDDTV: A new Donegal band called ‘The Raras’ have launched their very first single and have recorded a very clever video to accompany the song.The band are the latest musical act to come out of the Soundwaves Project stable. Soundwaves is a project designed for young artists to explore musical boundaries, while working together and developing the skills of a 21st Century musician.A pop-up Summer project based in Letterkenny, Co. Donegal, Ireland was organised by Wall2Wall Music (http://www.wall2wallmusic.org/) in partnership with DMEP.Following in the footsteps of Advanced Utopia, The Raras are hoping to make a big impact on the local music scene in Donegal.Band members in The Raras are Affraic Brophy – fiddle/voice, Amy Clarke – voice/keyboard, Sinead Doherty-Heape – voice/percussion, Rory McLaughlin – guitar, Ronan McGeehin – drums. To watch them perform their new single Day into Night simply click play on the video above.DDTV: WATCH NEW DONEGAL BAND ‘THE RARAS’ PERFORM THEIR SUPERB FIRST SONG was last modified: August 6th, 2015 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:DDTVnewslast_img read more