EUROPE – A Continental European insurance company has tendered a 200 million-dollar active Chinese equities mandate via IPE-Quest.
The brief is for medium- to long-term investment in equities in China, Hong Kong and Taiwan, benchmarked against the MSCI AC Golden Dragon Gross Return in dollars.
Assets eligible are restricted to listed stocks with a minimum public float of 250 million dollars, with holdings limited to five percent of the company’s equity.
The portfolio is to be fully invested at all times and cash is limited to a maximum of three percent.
Not permitted are repurchase, reverse repurchase and stock lending agreements. Likewise: short selling, leverage, derivatives and futures.
There are no pre-determined hurdles for length of track record or minimum assets under management within the asset class.
Closing date is June 21.