IPE - Nykredit Asset Management has tendered a $125m (€98m) mandate to invest in US small and mid-cap equities, using IPE-Quest.

According to search QN1239, the Danish financial services group said it aimed to increase the assets under management for the mandate "significantly" over the next three years.

The mandate calls for an unconstrained investment style, using the Russell 2500 index as a reference.

It also calls for an annual excess-return target of 300 basis points, measured over a complete market cycle.

Interested parties must have a five-year track record, although strategies with smaller track records are welcome to participate if the investment team is able to demonstrate longer-term investment results.
Nykredit said it preferred the strategy to have at least $500m in assets under management.

Those with a deep style bias - such as value or growth - will not be considered, although style biases will be accepted.

Multi-manager products, index products, enhanced index products, carve-outs and minimum-volatility strategies will not be considered.
The mandate will be set up as a segregated account and be distributed as a Danish mutual fund, regulated by Finanstilsynet, the Danish watchdog.   

Neither derivatives nor leverage will be permitted.

The closing date for applications is 7 June.

The IPE.com news team is unable to answer any further questions about IPE-Quest 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.