An undisclosed European pension fund has tendered a factor-investing mandate using IPE Quest.

According to QN-2182, the client is looking for a manager that can passively track a multi-factor benchmark for Europe, as well as one for the US.

The mandates are worth €250m each.

Although tracking error should not exceed 0.5%, the return and tracking errors are “less relevant”, as the benchmark – which the client is to provide – has not yet been decided.

The client said its main selection criteria for the mandates were “organisation, the investment team, trading capabilities and management fees”.

Applicants should have at least €3bn in assets under management (AUM) in the asset class itself and €10bn in AUM as a company.

They should also have a minimum track record of five years.

Interested parties should state performance, gross of fees, to the end of March.

The deadline for applications is 13 May.

The IPE 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 directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email