Scandinavian industry fund tenders mandates via IPE-Quest
SCANDINAVIA – A Scandinavian industry-wide pension fund has put out to tender two US equity mandates via IPE-Quest.
The fund is tendering a 100 million-dollar (88 million-euro) mandate for passively managed US equities, using the S&P 500 as a benchmark.
The second mandate is for either an active US small- and mid-cap equity portfolio, or for a active US mid-cap equity portfolio. Managers of both asset classes will be considered.
The size of the mandate will initially be between 50 million and 100 million dollars. The fund is looking for a manager with a 3-7% tracking error over the last five years and an information ratio of about 0.5%.
Closing date for applications for both mandates is August 5.
Further details and information on how to apply can be found on the website www.ipe-quest.com.