IPE-QUEST: Four new searches on system
EUROPE – There are four new searches on the IPE-Quest system worth a combined $600m (€450m), from UK and Dutch pension funds.
A UK corporate pension fund has tendered two equity mandates, worth a combined $400m (€298.9m).
Each mandate is worth $200m and must be actively invested in a segregated account. The pension fund has no specific style bias for either and is flexible about the benchmark, although has pointed the FTSE Developed Europe ex UK as indicative.
The fund wants to invest in Pan European large and mid cap core. Replies are expected by March 22.
Meanwhile, a Dutch pension fund has tendered two equity large cap core mandates totalling more than $200m (€149.3m).
The fund, advised by Van Nunen & Partners, wants to invest more than $100m in a US large cap core equities index enhanced mandate to be benchmarked against the S&P 500.
More than $100m will also be invested in pan-European index enhanced large cap core equities.
The mandate will be benchmarked against the MSCI Europe.
The selected tracking error for both briefs is between 1%-2%. The fund is also prepared to consider segregated as well as pooled accounts.
Candidates are required to respond by March 28.