Responsible investment a factor for major new UK bond mandate

One of eight key criteria in RFP

Responsible investment is one of eight key criteria for a new £350m (€417m) active bond mandate from the £3.5bn Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
“The mandate is for up to approximately £350m and represents around 10 % of the total Fund’s assets,” the Belfast-based investor says.
The Committee is looking to appoint at least one active bond investment, a tender document says.
“The successful manager will have a wide range of capabilities in bond management which includes absolute return, global bonds and high yield.”Total bond assets under management should be at least £1bn and the proposed strategy should have at least £500m invested in it.
Responsible investment has a weighting of five, the same as client service, in the request for proposal. Investment process and risk management account for 25 and 20 respectively, with other factors stated as performance (15), business (10), organisation and staff (10) and charges and fees (10).
The deadline for receipt of tenders is April 11. The mandate is being run on the committee’s behalf by consulting firm Aon Hewitt.