Mandate Profile:
- Client Type: German Insurance
- Initial Investment Volume: 50 m. EUR
- Investment Universe: Global & Euro High Yield Bonds, Reverese Yankees and opportunistic exposure in investment grade rated bonds possible
- Investment Restrictions: VAG requirements are mandatory, forced selling due to rating downgrades should be avoided; minimum Rating B-; opportunistic investment grade exposure up to 10%; only holdings denominated in hard currency (USD, EUR, GBP, CAD) eligible, no exposure to local currencies permitted
- Benchmark: ICE BofA BB-B Global High Yield Constrained Index (HW4C) EUR hedged or ICE BofA BB-B Euro High Yield Constrained Index (HEC4); Blend Benchmark: e.g. 40% ICE BofA BB-B US High Yield Constrained Index (HUC4) EUR hedged / 60% ICE BofA BB-B Euro High Yield Constrained Index (HEC4), possible
- Target Tracking Error: not restricted
- Currency Hedging: Non EUR FX must be hedged to EUR
- Derivatives: allowed
- Investment Style: active, long-only
- Investment Vehicle: Segregated Mandate (German "Spezialfonds") preferred or Mutual Fund (UCITS)
Deadline: Friday, April 10th, 2026 (COB)
