IPE-QUEST: European fund tenders Japan equities
EUROPE – A European pension fund has tendered up to $100m (€80.2m) in Japanese large-cap core equities via IPE-Quest.
The search (QN509) is for a Japanese equity portfolio, with the benchmark MSCI Japan Net Dividend (customised).
The mandate must be managed as a segregated account and managers must have at least a three-year track record and a minimum of $1bn under management in the asset class.
Managers must be prepared to exclude shares that do not match the fund's ethical guidelines.
The portfolio must be fully invested. Cash is only allowed temporarily and must not exceed 5% of the total portfolio.
There are other restrictions, such as short selling, derivatives, securities lending, currency hedging and loans.
The closing date is October 3.