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Insurer adds $130m large cap search on IPE Quest [updated]

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An insurer has tendered out a $130m (€118m) global large cap equities mandate via IPE Quest.

The search (QN-2564) comes on top of a similar tender for global small and mid caps, as reported yesterday (QN-2563).

For the large cap mandate, the asset owner has indicated that it wants a long-only, active or “enhanced” process within a segregated account.

The benchmark should be the US dollar-denominated MSCI World ex-Switzerland Net Total Return index, and the tracking error at least 1.5%.

The investor said a mandate benchmarked to the MSCI World index “might still be considered” if it did not have Swiss equities, or had minimal exposure to Switzerland, to avoid crossover with an existing mandate.

Applicants should have at least $750m in assets under management in the asset class, and $1bn as a firm. A track record of at least five years would be preferred, although the absolute minimum is three years.

The deadline for applications is 4 October at 5pm UK time. Applicants should state performance to 31 August, gross of fees.

This article was updated on 10 September 2019 to add further information provided by the investor.

The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation 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 jayna.vishram@ipe-quest.com.

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