UK insurer tenders mandate via IPE-Quest
UK – A UK-based insurance company is tendering a UK equity mandate worth up to 15 million pounds (21.6 million euros) via IPE-Quest.
The company is seeking an active manager to manage a core growth UK equity portfolio. The manager must also demonstrate a growth style i.e. momentum based or a manager that purchases shares whose earnings growth is expected to be in excess of the market.
The mandate will be for 500,000 pounds (721,000 euros) but this is expected to grow to between 10 and 15 million pounds within 12 months. Initially the insurance company expects to invest in a pooled vehicle, but may wish to transfer the mandate into a segregated account at a later date.
The benchmark is the FTSE All Share Index. No minimum track record is required.
The closing date for expressions of interest is October 8 and managers must be able to offer a service from the UK.
Further details can be obtained from www.ipe-quest.com