IPE - Nykredit Asset Management is searching for an asset manager to run a long-only global equities mandate, using IPE-Quest.

According to search QN1236, Nykredit expect to increase the initial €150m in assets "significantly" over the next three years.

The mandate calls for an unconstrained investment style, using the MSCI AC World as a benchmark, and has an annual excess-return target of at least 300 basis points, measured over a complete market cycle.

Interested parties should submit performance data, gross of fees, to the end of March, with a preferred five-year track record.

Products with a track record of less than five years are welcome to participate if the investment team is able to demonstrate longer-term investment results.

Nykredit prefers the relevant strategy to have at least €1bn in assets under management.

Strategies with a deep style bias toward value or growth will not be considered, although style biases are acceptable.

Multi-manager products, index products, enhanced index products or carve-outs will not be considered, nor will minimum volatility strategies.

The mandate will be set up as a segregated account, and the selected manager must be willing to manage a Danish mutual fund regulated by Finanstilsynet, the Danish watchdog.

The deadline for applications is 27 May.

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.