(This article has been updated to reflect new deadlines)
Three new equity manager searches totalling up to $1.15bn (€930m) have been launched by Swiss workplace pension plans on IPE Quest.
Two are for for emerging market managers and one is for a developed market small-cap strategy.
The investor behind search QN-2561 has tendered a $150m all-cap emerging market equity mandate; frontier markets can be included in the strategy.
It is looking for an active investment process, with the MSCI Emerging Net Total Return USD Index as the benchmark. There should be a tracking error of at least 2%
Implementation should be via a segregated or managed account – a fund solution is not welcome.
Applicants should state performance to 31 December 2020, gross of fees. The deadline is 1 February 5pm UK time.
The other emerging market equity search, also for all-caps, is QN-2653, with a mandate of CHF200 (€182m)-400m up for grabs. This strategy should also be actively managed, with MSCI Emerging Market IMI (gross) as the benchmark and a maximum tracking error of 5%.
Applicants should have at least $2bn in assets under manageement for the asset class and $10bn as a firm. A track record of five years is preferred, but three is the minimum.
The deadline is 14 January 2021 at 5pm UK time.
Developed markets equity
Search QN-2652 has the same deadline as QN-2653, but is for a global developed markets small cap equity strategy. This time the investor is after passive management, with MSCI World Small Cap (gross) as the benchmark. The tracking error should not be more than 0.5%.
The mandate is for CHF300m-600m.
Interested parties should have at least CHF2bn in assets under management for the asset class, and CHF30bn as a firm. A track record of five years is preferred, but three is the minimum.
As for QN-2653, the investor wants the strategy to be in a segregated account, single investor fund structure under Swiss law.
QN-2561: all cap EM equity, application deadline 1 February 5pm
QN-2562: global DM small cap equity, application deadline 14 January 2021 5pm
QN-2563: all cap EM equity, application deadline 14 January 2021 5pm
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 firstname.lastname@example.org.