Pension fund management services

Tender description

Procurement for investment management services for a multi-asset credit mandate. Following the launch of our UK Equity Alpha Fund in Q4 2018 and forthcoming Global Equity Alpha Fund in Q3 2019, Border to Coast will soon begin the manager selection process for our forthcoming fixed income funds. We will be focussing on UK Investment Grade Credit and global Multi-Asset Credit, which are expected to launch in Q4 2019 and H1 2020 respectively. The funds are each expected to have assets under management of 2 000 000 000-3 000 000 000 GBP at launch. This prior information notice relates specifically to investment management services for the multi-asset credit fund, where we have been working closely with our LGPS Partner Funds to ensure the structure, risk and return objectives best meet their needs. For multi-asset credit we intend to employ a core-satellite approach. Consequently, we are seeking specialists in specific credit market sub asset classes such as high yield bonds, leveraged loans, emerging market debt and asset-backed securities for individual asset class mandates. We are expecting to run a 2-stage procurement for multi-asset credit, with a core manager appointed first followed by the specialist managers at a later stage. Border to coast will hold a fixed income manager day on 17.6.2019 to provide further detail on both mandates. We will be covering: — an update on border to coast, — the proposed structure of the investment grade credit sub-fund, — the proposed structure of the multi-asset credit sub-fund, — details on our approach to selection and working with external manager partners, — Q&A. Please note that the manager day will be focused entirely on fixed income and thus we would only encourage those interested in submitting a mandate for either fund to attend. We will not be discussing equities or private markets. If you wish to submit your interest for the manager day, please contact Border to Coast on events@bordertocoast.org.uk Please include [Fixed Income] in the subject line.