Two Canadian funds tender E100m via IPE-Quest
CANADA - A Canadian investment consultant has tendered on behalf of two Canadian pension funds two mandates worth a total of 120 million US dollars (100.5 million euros).
The briefs are in actively managed global developed markets (ex-Canada) equities.
One mandate is worth 50 million US dollars and the other is valued at 70 million US dollars.
Submissions are sought for products, which are either core, growth or value in style as one of the mandates will be awarded to a value manager and the other will be awarded to either a core or growth manager.
Managers may wish to submit more than one product.
The benchmark will be the MSCI World Total Return Index ex-Canada but replies are expected for products managed against global indices.
The successful managers must are required experience of managing equity mandates for Canadian pension plans and must have been in business for more than 10 years.
They are expected to have at least five years experience managing assets for pension plans and must have a minimum assets under management of 500 million dollars within this asset class.
Managers who currently have Canadian pension clients will be preferred. The deadline has been set for May 6.