DENMARK - Danish firm Nykredit Asset Management is looking to invest up to $150m (€100m) in all/large-cap equities, using IPE-Quest.
Acting as an investment consultant, Nykredit said in QN1030 that it plans to investment in core active all and/or large-cap European equities benchmarked to the USD MSCI Daily TR Net Europe index, but will only consider sub-advised funds which are UCITS-compliant.
Officials have specified they are interested in active long-only equity funds, and will not consider short-selling, bonds, derivatives, convertible bonds or currency-forward contracts within the mandate, and expect to see minimum excess returns of 200-300bp per annum.
Track records must be stated gross of fees to 31 March 2009 and denominated in euros for a minimum of three years, though a five-year track record is preferred. And the minimum assets under management it will be accept for the mandate held by the firm is $500m.
Closing date for application is 18 June 2009.