SCANDINAVIA – A Scandinavian pension fund has tendered a mandate for around 400 million dollars (326.7 million euros) in North American equities via IPE-Quest.
“The mandate will be for approximately 400 million dollars which the pension fund expects to split equally between two managers.”
The mandate is for actively managed core US and Canadian equities. The benchmark is MSCI North America (customised). The managers must provide a core product with a tracking error (ex ante) of around four percent
Managers must have a three-year track record with at least two billion dollars under management within this asset class.
The mandate has ethical investing restrictions and the portfolio must be fully invested - cash is only allowed temporarily and must not exceed five percent of the total portfolio. The closing date is January 30.