Mandate Profile:
- Client Type: German Pension Scheme
- Initial Investment Volume: 65 m. EUR
- Investment Universe: Global (US) High Yield Bonds, 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 acceptable is B- (Issues downgraded below B- have to be sold within six months after downgrade); buying of B- (or better) permitted; only holdings denominated in hard currency (USD, EUR, GBP, CAD) eligible, no exposure to local currencies permitted
- Benchmark: e.g. ICE BofA Global High Yield Constrained Index, Bloomberg Global High Yield Bond Index or comparable
- Target Tracking Error: not restricted
- Currency Hedging: USD hedged
- Derivatives: allowed
- Investment Style: active, long-only
- Investment Vehicle: Segregated Mandate (German "Spezialfonds") or Mutual Fund (UCITS)
Deadline: Wednesday, July 26th, 2023 (COB)
