Danish National Research Foundation, Copenhagen, is searching for a manager to run a 600 million Danish kroner ($96 million) allocation to global inflation bonds.
The 5.8 billion Danish kroner foundation wants a manager to deliver a segregated portfolio hedged back to euros, said notice filed with European procurement website, Tenders Electronic Daily. The foundation does not want to pay performance fees.
The contract will last five years.
The strategic allocation to global inflation-linked bonds is 11% and is currently managed by Danske Bank Asset Management, according to the foundation's latest annual report. Any non-euro denominated bond exposure is hedged to euros by the manager. The global inflation-linked bond allocation returned 2.8% in 2019. A spokeswoman could not be reached to provide additional information, including if Danske Bank can rebid.
The foundation invests 65% of its assets in bonds and 35% in equities.
Managers wishing to submit RFPs must register with procurement website EU-Supply and submit applications by midnight Central European Time on Jan. 20.
