IPE - Investment consultant Kirstein has tendered a global emerging market equities mandate worth $80m (€54m) on behalf of a Danish foundation, using IPE Quest.
According to Quest search QN1180 successful asset manager should aim to outperform the MSCI Emerging Markets index - or other similar indices, such as the S&P Emerging Markets Investable Composite - "irrespective of the style in the market".
The foundation will accept only long-only products, and pure mid or small-cap products will not be of interest.
It is also looking for an actively managed offering that is "core to value in style", excepting index or enhanced-index strategies.
The foundation is looking for products with a proven track record of three years, although five years will be preferable.
It also prefers a fundamental, bottom-up approach; no pure quantitative strategies will be considered.
"Opportunistic" allocations to new frontier markets will be accepted, but should not constitute more than 20% of the portfolio.
Neither multi-manager nor leveraged products will be accepted, according to Kirstein.
Deadline for participation in the search is 13 May.
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 email@example.com.