Stockholm (HedgeNordic) – A Danish institutional investor is currently seeking a manager with an absolute return strategy in the credit space, as indicated by a request for proposal on Global Fund Search. The anticipated allocation is €10 million, and the deadline for the request for proposal is April 12, 2024.

Search Criteria

• Universe: Absolute return – Credit, preferably European-based exposure;
• Objective: The strategy must have an annualized target return of at least the risk-free rate +4% net of all costs – including hedging cost to EUR, if non-EUR exposure – over a full macrocycle. The return stream must be non-correlated to listed credit markets over longer and shorter horizons;
• Style: Long/short or long-only;
• FoF/Multi-Strategy: No FoF solutions. Multi-strategy is accepted if it is within the credits space only;
• ESG: SFDR Article 8 funds preferred.

Minimum requirements

• UNPRI signatory.

Investment vehicle

• The investment vehicle must be on-shore and can be either a UCITS or an AIF Fund;
• Domicile: Luxembourg or Ireland;
• The fund must have at least monthly liquidity and intra-month notice period;
• The structure must be tax-opaque.

Process outline

• Shortlisting during Q2 2024;
• Implementation Q3/4 2024.

Performance data

• Please submit performance data gross-of-fees and hedged to EUR;
• If you submit a composite or single portfolio, please also provide the returns of the fund itself.

Deadline
April 12, 2024 (Cut-off: Midnight CET, Expiry date inclusive).

To review the search and apply, asset managers need to register here (for free) on globalfundsearch.com