IPE: An unnamed Swiss pension fund is looking for a global equity solution aligned with EU climate benchmark requirements for a $500m (€423m) mandate, according to a new search on IPE Quest.
The fund said it is looking to decarbonise its global passive equity exposure with a rule-based carbon and ESG-optimised solution. According to search QN-2686, the solution should match the EU Climate Transition Benchmark (CTB) requirements.
The investor specified that it wants minimal regional, sector and style deviation from the index, MSCI AC World or equivalent, with a tracking error of at most 1%. There should be a possibility to consider additional environmental, social and governance (ESG) criteria at a later stage.
The fund is looking for a full-service solution by an asset manager, who must have at least $50bn assets under management in passive and/or quantitative solutions and a track record of at least 10 years in passive global equity strategies.