EUROPE – A Swiss pension fund is looking for managers to oversee a $150m (€113m) global small-cap equity mandate, using IPE-Quest.
The fund stressed that search QN1269 was a request for information rather than a formal tendering process and that it "would like to see what is on offer" in the market.
However, the scheme has said it would like to invest $100m-150m in passively managed, global, small-cap equity, and that providers would manage against the MSCI World Small Cap index if eventually selected for the mandate.
"The provider needs to have a tax-optimised share class for Swiss institutional investors," the search added, although it did not place any further restrictions on applying companies, such as tracking error or minimum threshold of assets under management.
However, any asset manager should have at least five years' experience investing in small -cap equity, submitting performance data to the end of September by 9 January.
In other news, the £3.7bn (€2.8bn) Lothian Pension Fund has appointed four managers to a framework agreement covering a £200m global emerging market equity portfolio, replacing incumbent manager Aberdeen Asset Management.
First put out to tender by the City of Edinburgh council, the fund's administering authority, in May this year, Lothian said it would consider appointing as many as 10 managers to the framework, although only one would receive funding to invest on its behalf.
At the time, the fund added that the mandate should aim to outperform "a broad global emerging market equity index" by 3 percentage points, with two managers now asked to outperform the MSCI Emerging Markets index over a rolling five-year period.
Mondrian Investment Partners and UBS Global Asset Management have been granted mandates of approximately £100m each, while Lazard Asset Management and Martin Currie Investment Management were also selected for the framework, but did not receive any capital.
The IPE.com news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE-Quest, please contact Liz Clarke on +353 43 33 29560 or email email@example.com.