A European insurance company has tendered a €200m Asia ex Japan equity mandate using IPE-Quest.

The company behind search QN1451 said it preferred an active management style to invest in large-cap Asian equities.

The investor said it expected this to be done with a growth and value investment style bias.

Managers should observe a minimum tracking error of 3% against the MSCI AC Asia ex Japan or MSCI EM Asia indices.

The insurance company stipulated the tracking error should not extend above 14%.

Interested managers must have at least $500m (€390m) in assets under management within the mandate, and $1bn in assets overall.

There is a minimum requirement of a three-year track record, although the investor stated a preference for a five-year record for the fund.

All requirements for tracking error, assets under management and track records are soft limits.

Applicants have until 22 September to apply.

Performance should be stated to 30 June and provided gross of fees.

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.