IPE-QUEST: Danish scheme tenders equities
DENMARK – A Danish pension fund has tendered two European equity mandates worth a combined €75m via IPE-Quest.
The briefs are for pan-European large-cap equities pan-European small-mid cap equities.
The small-mid equity mandate is worth €25m, and the fund has not yet decided its benchmark. The large cap brief amounts to €50m and it is to be benchmarked against the MSCI Europe.
The scheme does not require a minimum volume of assets under management and is flexible on tracking error but wants a core style.
A minimum three-year-or ideally a five-year track record is required. The fund has no preconceived views on the cap levels which define European small-mid cap and is prepared to listen to the views expressed by managers when deciding on a benchmark.
The application form provides room for managers to discuss their choice of benchmark. Managers must apply by January 25.