AHV shortlists for small cap equity mandate
Geneva-based Ausgleichsfonds der Alters-und Hinterlassenenversicherung (AHV) is compiling a manager shortlist for a CHF500m ($1.6bn) global small-cap equity mandate first tendered in March.
The move is part of a restructuring of AHV’s global small-cap portfolio, with the scheme seeking to allocate to an investment fund specifically directed at Swiss investors. The investment will be financed by transferring assets from an existing global small-cap brief.
The new asset manager is expected to allocate to developed markets, and benchmark against the MSCIWorld ex-Switzerland Small-Cap Index over a rolling three-year period. The investment region will exclude Switzerland because AHV already makes local allocations through other mandates.
The fund’s existing manager roster includes the following firms: compenswiss, Ashmore Investment Management, BlackRock and Schroders. Ortec Consulting is in charge of external investment controlling of the fund, while UBS is AHV’s depositary bank.
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