SCANDINAVIA - A Scandinavian pension fund is looking for an active manager for a $250m (€181.7m) pan-European equity mandate, using IPE-Quest.
Monies can be invested in all/large cap pan-Europe equities benchmarked against MSCI Europe, as stated by the investor in quest QN833.
However, the mandate will be subject to the pension funds' ethical restrictions for investments and thus the manager is not allowed to invest in companies blacklisted by the pension fund.
The fund prefers a core investment style and the portfolio must be fully invested, so cash is only allowed temporarily and must not exceed 5% of the portfolio.
Tracking error may be 3%-7% ex ante or even no tracking error limitation and the mandate must be managed on a segregated account.
Interested managers have to have at least $1bn in assets under management for the mandate and an absolute minimum track record of three years. The preferred minimum track record is five years.
The stated closing date is August 8.