SWEDEN – The Third Swedish National Pension Fund, AP3, has published details of manager search tenders for two new equity funds for Asia Pacific (ex-Japan) and Japan worth potentially €577m.

The Asia Pacific (ex-Japan) mandate is expected to be anywhere between $90m-$140m (€103m-€161m) while the Japanese component will be between ¥20bn-¥45bn (€185m-€416m).

The mandates will track FTSE’s All-World Developed Asia Pacific (ex-Japan) and the FTSE All-World Japan indices respectively, and applicants will have to show a track record against these or similar indices.

Applications have to be in by 27 August 2001 although the date for the final selection has not been set.

Contracts may be single or multi-manager and will initially run for three years with an optional renewal period of two years thereafter.

Mandates may be divided into different tranches and the number of providers invited to tender will depend on the number of applications received.