Updated with correction
Swiss Federal Social Security Fund, Geneva, issued an RFP for an enhanced index commodities manager to run up to $50 million, confirmed Edouard Dubuis, head of asset management.
The selected firm is expected to run a rule-based long-only futures strategy that tracks the S&P GSCI, a commodities index. The manager will have a target information ratio of 0.5.
The 26.4 billion Swiss franc ($25.7 billion) fund had 2.2% of total assets in commodities as of June 30, up from 1.3% as of March 31, according to data on its website. Its target commodities allocation is 3%.
Proposals are due Sept. 15, and finalists are expected to be selected Sept. 30. The RFP is available by completing a form at http://www.ahvfonds.ch/main/en/?page_name=mandate.