DENMARK – A Danish pension fund has tendered an expected $50m (€39.1m) in US mid-cap equities via IPE-Quest.

The search (QN627) says the manager’s target will be to “outperform the Russell Midcap index (with net dividends reinvested) in changing market conditions”.

Products with investment universes similar to the Russell 2500 index are also of interest.

The requirements for the mandate are: three-year track record, no short selling or leverage, no fund of funds. Dedicated small-cap products will be excluded.

The mandate will most likely be packaged in a Danish mutual fund solution.

The closing date is June 2.

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