A Luxembourg-based asset owner, which happens to be a fund management company (ManCo), has issued a request for proposals via IPE Quest for provision of a multi-asset class investment risk management system as well as an investment restrictions monitoring system for its fixed income and equities investment funds.According to search QN-2620, as of end of June 2020, the ManCo managed an umbrella fund with several sub-funds. It mainly invests in government debt instruments issued by emerging and frontier countries, being in hard or local currencies.One sub-fund is only dedicated to investment in equities, mainly blue chips. Derivatives are mainly linear and used for hedging purposes, at the exception of one sub-fund where options are used for speculative purposes, the notice clarified.The risk system, however, should be able to cover a wide range of asset classes in order to cope with the ManCo’s future projects (emerging and frontier corporate fixed income assets for instance). Another important element will be abilities for respondents to demonstrate their expertise and experience in offering multi-asset class risk systems and investment restrictions monitoring services on behalf of ManCos over the past five years.Regarding the risk management system, teh asset owner expects the following coverage:Leverage calculation (sum of notional and commitment as defined by ESMA guidelines 10-788 and CSSF circular 11/512);Value at Risk (compliant with requirements of ESMA guidelines 10-788 and CSSF circular 11/512);A dirty and clean back testing program;Statistical tests such as Kupiec and Christoffersen;Stress tests (historical and hypothetical);Liquidity risk calculations in line with CSSF circular 19/733 and ESMA guidelines 34-39-882;Calculation of SRRI values;Ability to support adhoc regulatory and client risk report risk.Regarding the investment restriction monitoring system, it expects:Coverage of legal rules set by Chapter 5 of the 2010 Law;Coverage of prospectus rules;Impact assessment in case of breach;Eligibility of assets controls.The deadline to participate is 9 September 2020 at 5pm UK time.Swiss pension fund tenders $200m high yield mandateA pension fund based in Switzerland has issued a tender through IPE Quest.The $200m (€167.8m) US high yield mandate – which will be managed as a single investor fund – will follow the Bloomberg Barclays US High Yield 2% Issuer constraint Index as benchmark.According to search QN-2619, the deadline for applications is 4 September at 5pm UK time. Applicants should state performance data to 30 June 2020, gross of fees.Interested managers – which should have a minimum track record absolute of eight years amd a minimum of $2bn of assest under management for this strategy – can respond to the tender in either English or German, the notice said.The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email [email protected] read the digital edition of IPE’s latest magazine click here.
For 45 minutes, Aston Villa seemed more than happy to let Sherwood go out with a bang and the away fans expressed their anger at the full-time whistle, with an uncertain summer also lying ahead at Villa Park. Tottenham enjoyed a positive start to the contest and created the first chance in the 10th minute when Adebayor slid a pass into the near post for Harry Kane, but the young striker’s shot was blocked by Villa goalkeeper Brad Guzan. Villa were struggling to establish a foothold as Spurs continued to pile forward and in the 14th minute the hosts broke the deadlock. Christian Eriksen’s quick pass allowed Gylfi Sigurdsson to feed Paulinho who saw his first shot saved but the Brazilian pounced on the rebound for his eighth goal of the season. Paulinho should have doubled the lead a minute later as Kyle Naughton picked the ball up on the right and fed the midfielder inside the box but he skewed his shot wide with only Guzan to beat. Villa were chasing shadows in defence as Eriksen and Sigurdsson continued to find pockets of space behind the Spurs front two. With 35 minutes on the clock, the home side doubled their advantage as Eriksen’s cross fell to Danny Rose who drove the ball to the near post and Baker, under pressure from Adebayor, turned the ball into his own net. The home fans had barely ended their celebrations before Tottenham were in again as Eriksen played Kane through but just as the striker was about to pull the trigger, Fabian Delph slid in to make an excellent block. The victory will do little to ease the disappointment of a fourth failed attempt at Champions League qualification but Tottenham at least gave their fans some cause for optimism thanks to first-half goals from Paulinho, Nathan Baker’s own goal and Emmanuel Adebayor’s penalty. Sherwood, whose name was not included once in Daniel Levy’s pre-match programme notes, seems to have revelled in an air of defiance since taking over at White Hart Lane in December and it was difficult not to see this rout as a final act of insolence towards his reportedly dissatisfied employers. Villa’s misery was compounded though two minutes later when a penalty was awarded as Sandro’s long-range shot struck the lifted arm of Gabriel Agbonlahor in the area and Adebayor stepped up to convert his 14th goal of the season. Michael Dawson could have even made it four before half-time but his header was saved by Guzan, who was perhaps the only Villa player to leave the field with any credit at half-time. The visitors started the second period with a greater determination to shut down Tottenham’s space, pressing the ball with far more intensity than they had in the first half. Delph went close shortly before the hour as he latched on to Agbonlahor’s cushioned header but drove his half-volley just wide of the post. The match drifted into the final 10 minutes with both sides seemingly happy to play the game out as chances dried up at both ends. One of the loudest cheers came when Sherwood gave a vocal Tottenham fan a club jacket and a place among the team coaches for the final five minutes of the match. Spurs fans will now wait to see who will be sitting on their bench at the start of next season. If this was to be Tim Sherwood’s final game in charge at Tottenham he left with a flourish as Spurs eased past Aston Villa 3-0 to finish sixth in the table and secure qualification for next season’s Europa League. Press Association