BELGIUM - A Belgian pension fund has tendered a 30 million-euro global equities mandate through IPE-Quest.

The mandate is for either passive or passive enhanced global equities, the fund says.

Successful candidates should be able to optimise the balance between low tracking error versus the benchmark index and low transaction costs.

The preferred benchmark is: 25% MSCI EMU, 25% MSCI Europe, 50% MSCI World with all the dividends to be reinvested.

The fund said it was aware that managers might not be able to match the benchmark with existing products and that some managers could present more than one product. Pooled and segregated products would be considered equally.

Managers with the capability to provide client servicing from a local office - for example within Belgium or Benelux - will be preferred although this is not a prerequisite.

Track records should be a minimum of three years.

The closing date has been fixed for May 20.

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