An Eastern European pension is tendering three equity and multi-asset fund mandates worth up to €120m, using IPE-Quest.

The three searches are asking managers with funds based in OECD member states to apply for the three mandates worth €10m-40m each.

Any submitted funds should be open-ended pooled vehicles with assets under management of at least €800m, according to the search.

The fund further asks that all vehicles have at least a five-year track record and do not submit any back-tested data.

For search QN1353, investing into an equity fund basing returns around a dividend yield strategy, managers should either only invest in euro-denominated assets or hedge all exposure into the single currency.

The mandate could be managed either actively or passively, according to the search, with both open-ended funds or ETFs permissible.

The second search, QN1354, should also be invested in euro assets or hedged accordingly “with an investment approach aimed at achieving absolute or stable returns”.

The fund asks that a particular emphasis be paid to risk management or risk-targeting strategies in an effort to reduce the portfolio’s investment risk, with a minimum two-thirds of the fund’s assets invested in equities.

Search QN1355, for a multi-asset, absolute return vehicle, can be invested across a variety of assets, again aiming to reducing the portfolio’s risk – with derivatives used to a “limited” extent as a hedging tool.

The fund adds that derivatives should not play a dominant role in the fund’s investment strategy.

At this stage, IPE-Quest is creating a long list of managers for the pension fund, which will then send out a more detailed questionnaire to managers.

Applicants have until 3 December to apply for all three searches.

The IPE.com news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information direct from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.