EUROPE – A Danish pension fund is looking for a manager to oversee a $125m (€97.5m) global large cap equity mandate, using IPE-Quest.

According to search QN1291, the industry-wide scheme was looking for a manager who will run an active strategy, employing a low or minimum volatility approach.

The active manager's success would be benchmarked against the MSCI All Country World index.

The Danish fund specified no tracking error guidelines, but required the manager to have a minimum two-year track record managing such equity portfolios.

The fund would nonetheless prefer at least three years of experience.

The search said: "The client prefers three years or more live track record but will accept replies from managers with a two year live track record.

"Back testing does not count," it added.

Managers should oversee at least $300m in similar strategies and have more than $1bn in assets company-wide.

Interested parties should state performance to the end of March this year, gross of fees.

The closing date for applications is 22 April.

Meanwhile, the trustees of the £110m (€130m) University of Leicester Pension and Assurance Scheme have appointed Aon Hewitt to provide actuarial advice and pensions administration.

Professor John Holloway, chairman of the trustees of the University of Leicester Pension and Assurance Scheme, said that the fund's defined benefit obligations were challenging to manage and it was "vital" that trustees received the best information and advice, and that members got the best service.

The 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 Jayna Vishram on +44 (0) 20 3465 9330 or email