Mandate Profile:
- Client Type: German Foundation
- Initial Investment Volume: approx. 100 m. EUR
- Investment Universe: Global Equities, Fixed Income (Sovereign, Covered, Corporates IG & HY, Convertibles, EMD)
- Investment Restrictions: Sustainability should be an integral part of the investment process. The portfolio has to be in compliance with the client's negative list (will be provided at a later stage).
- Exposure Limits: max. 15% High Yield, max. 15% EM Local Debt, max. 60% Equity, max. 50% Cash, min. 25% Fixed Income, min. Rating B-
- Benchmark to be implemented in the client’s mandate: 15% MSCI Europe net return in EUR, 35% MSCI USA net return in EUR, 40% iBoxx Euro Corporates (TR), 10% ICE BofA Global High Yield TR hedged in EUR
- Target Tracking Error: not restricted
- Currency Hedging: Hard Currency Fixed Income exposure hedged in EUR
- Derivatives: allowed
- Investment Style: active, long-only
- Investment Vehicle: Segregated Account (German “Spezialfonds”)
Deadline: Monday, March 20th, 2023 (COB)
