EUROPE – A Nordic pension fund has tendered a mandate worth around 50 million euros for equities that will benefit from the enlargement of the European Union.
The brief is “for actively managed listed equities of companies that will benefit directly from the EU enlargement”.
“The firms need not be based in the accession countries but they must be companies which are significantly exposed to these economies.” The mandate is not necessarily a mandate for eastern European equities.
Managers must have a long-term investment philosophy and a long-only focus on absolute returns. They will have to demonstrate “deep knowledge” of the companies invested in, a low turnover and a highly structured and strong discipline in management of the portfolios.
Because of the unusual nature of the mandate there are no specific constraints on length of track record or assets under management within the asset class.
The closing date is June 15.
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