EUROPE – A European bank has tendered for a Japanese equities advisor via IPE-Quest.

The search (QN560) is for an initial $250m in all-cap Japanese equities benchmarked against the MSCI Japan.

There’s no specific style bias and the manager will be sub-advisor to funds complying with UCITS regulations.

The advisor should have a GIPS compliant (or equivalent) track record of not less than three years. The client is looking for an information ratio of more than 0.25, with a tracking error exceeding 4%.

The client also wants organisational stability.

The closing date is December 19.