DENMARK – A Danish industrial pension fund has tendered a global enhanced index equities mandate for 50 million dollars (46 million euros) plus via IPE-Quest.

The benchmark is the MSCI World Developed Markets Net Index.

“Within the constraints of the portfolio and after deduction of transaction costs and management fees the portfolio must perform as benchmark or better,” the tender says.

There is a strong social component. “Investment in heavily polluting companies is not permitted. Investment in companies who do not respect basic human rights or labour rights, as expressed in UN and ILO conventions ratified by Denmark, is not permitted.”

The portfolio must be fully invested, with cash only allowed temporarily. Cash must not exceed 5% of the portfolio. Monthly tracking error measured on a yearly basis must not exceed 1%. The fund is looking for a beta of 0.9-1.1.

The closing date is February 20.

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