Stockholm (HedgeNordic) – A Swiss private bank is seeking to allocate a minimum of €20 million to a fund specializing in global equities through a quantitative approach, along with an additional €20 million to a long-biased global equities fund incorporating options overlay. The deadline for the two separate requests for proposal (RPFs) is set for the end of May.
Search Criteria for Global Equity – Long Biased:
- Universe: Listed Global Equities, e.g. ACWI, World or similar
- Performance criteria (Hard restrictions):
- ITD net excess return ≥ 2.5% p.a.
- 3Y rolling excess return ≥ -1% p.a.
- Tracking error ≤ 5% p.a.
- Style:
- Quantitative Long biased (Hard restriction)
- Instrument allowed: Equities and equity derivatives
Search Criteria for Global Equity – Long Biased with Option Overlay:
- Universe: Listed Global Equities, e.g. ACWI, World or similar
- Performance criteria (Hard restrictions):
- ITD net excess return ≥ 2.5% p.a.
- 3Y rolling excess return ≥ -1% p.a.
- Tracking error ≤ 5% p.a.
- Style:
- Long biased with option overlay (Hard restriction)
- Instrument allowed: Equities and equity derivatives
Other criteria (Hard restrictions) – Applies to both RFPs:
- Company AUM: minimum $500M
- Strategy AUM: Minimum $50M (Composite)
- Track record minimum 3 years (Composite)
- No PM change within the past 3 years
Investment vehicle – Applies to both RFPs:
- The fund will be a sub-fund of an existing UCITS ICAV.
- Fund domicile/structure/Base currency is flexible, including off-shore vehicles.
Process outline – Applies to both RFPs:
- Shortlisting during Q2
- Implementation Q3
Performance data – Applies to both RFPs:
- E.g. USD, EUR, CHF net of fees
Deadline – Applies to both RFPs:
May 29, 2024 (Cut-off: Midnight CET, Expiry date inclusive)
To review the search and apply, asset managers need to register here on globalfundsearch.com
