An insurance company from the Nordic region is looking for an asset manager to take on a $100m (€89m) mandate to invest in small-cap equities in Asia excluding Japan.

According to a search on IPE Quest, the insurer will only accept strategies offered as a pooled vehicle.

The fund must be UCITS-compliant and registered in Luxembourg or Ireland.

The preferred benchmark for the US dollar-denominated mandate is the MSCI AC Asia ex Japan Small Cap Net index, with assets being managed actively.

Firms responding should have at least $1bn under management in total, and a minimum of $250m for this asset class.

Tracking error should be kept between 3% and 10%.

Firms responding should state performance to 31 March and supply data gross of fees.

They should have a track record of at least three years, though track records of five years are preferable, according to the search.

The closing date is 25 May at 5pm GMT, with a shortlist to be selected on 1 June.

The deadline for submissions of RFPs has been set at 15 June, with the final selection being made by the board on 15 September.

The IPE 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 direct from IPE Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.

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