Intesa Sanpaolo issues €1bn in equity, bond mandates

first_imgThe defined contribution pension fund of the Intesa Sanpaolo Group in Italy has published a call for asset managers to run 26 mandates for a portfolio worth more than €1bn.The €5.5bn pension scheme issued the tender as contracts with current asset managers were soon to expire. The scheme last issued 24 mandates for a total of €3.4bn in 2017.The fund is seeking to hire three emerging government bond managers for a mandate worth approximately €145m, with another three corporate euro bond managers for a brief worth €62m.It is also looking for another three managers for US corporate bonds (€62m), and three other firms for global high yield corporate bonds (€136m). There is one additional euro corporate bond mandate worth €78m.For equity, the scheme is seeking four firms for European equity mandates worth €143m, and three managers each for US equity (€130m), pacific equity (€164m) and emerging market equity (€164m).For each mandate, the appointed managers will aim to achieve a return higher than that of the benchmark over the time horizon set by the duration of each agreement, containing the annual tracking error volatility of the management within the established limits, an online notice disclosed.Intesa Sanpaolo also stated in its Socially Responsible Investments policy that the manager selection process would involve evaluating candidates according to their sustainable investment policies and strategies.Expressions of interest should be sent to the fund via email ([email protected]) by 25 September 12pm local time.To read the digital edition of IPE’s latest magazine click here.last_img

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