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IPE-QUEST: Danske seeks biotech manager

DENMARK - The Danish asset manager Dankse Capital is searching for an active equity manager on two long-only global mandates run against Nasdaq Biotech and MSCI Healthcare indices respectively.

Using IPE-Quest, Danske, which recently was appointed by Swedish buffer fund AP7, said it preferred a fundamental, rather than a quantitative approach for the $70m (€49.6m) mandate.

In the QN860 manager search, Danske said "preferably both mandates will be managed by the same asset management house, but this is not an ultimate requirement".

Danske also said it would prefer a team-based, rather than a star-manager, approach.

The prospective manager would be allowed to invest in stocks not included in the benchmark, but cannot invest in sectors not identified as either biotech or healthcare stocks.

Moreover, Danske stated short-selling and the use of derivatives are not allowed, and the manager should be pre-trade to work with pre-trade approval.

Stated tracking error is a maximum of 10% while assets under management for both accounts is initially set at €50m in total.

Closing date for the search is October 3.

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IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2517

    Asset class: Fixed income.
    Asset region: Global.
    Size: $70m.
    Closing date: 2019-03-20.

  • QN-2519

    Asset class: Fund wrapper.
    Asset region: Global.
    Size: EUR 80m.
    Closing date: 2019-03-29.

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