EUROPE – A European institutional investor is looking to appoint a manager to a €80m pan-European equity mandate, using IPE-Quest.

According to search QN1261, the investor would like a long-only equity manager for either a large cap or all-cap pan-European approach.

Multi-managers will not be considered, and managers should be fully invested in equities. 

Leveraged strategies or those using derivatives or ETFs will not be considered.

The actively managed mandate would be benchmarked against the MSCI Europe index, and the investor has decided against applying any restrictions through tracking error.

Companies must have at least three years of experience with an existing portfolio and manage at least €50m to be considered, although a five-year track record would be preferable.

Interested parties have until 20 November to apply, citing gross of fees performance to the end of September.

In other news, the £485m (€581m) Scottish Enterprise Pension & Life Assurance Scheme, the defined benefit fund for employees of the government-backed business development agency, is seeking to appoint both an investment consultant and a scheme actuary for at least three years.

According to the tenders, providers of actuarial, administration and other ancillary services will be asked to advise on fund communication, as well as conduct actuarial valuations and fund administration.

Based on fair value of the scheme’s assets, the most recent annual report found a surplus of nearly £60m at the end of March this year.

However, according to the tender, a review conducted since showed a small deficit.

“In preparation [of a triennial valuation in 2014], the trustees have also begun implementation of a de-risking strategy, which requires the actuarial adviser to work closely with the trustees’ investment advisers in dynamically de-risking the scheme.”

Pre-qualification questionnaires for the three-year contract, which could be renewed for a further year, should be submitted by 28 November through the Scottish government’s tender portal.

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.

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