IST Investmentstiftung, a Swiss investment foundation for pension schemes, has tendered out a $150-250m (€125m-€208m) US small- to mid-cap equities mandate via IPE Quest.
According to search QN-2689, applicants should have at least $750m in assets under management for the asset class, and at least $10bn as a firm.
IST is looking for active management, with Russell 2500 TR as the benchmark, although 15% of the capital may be invested outside the Russell 2500 universe. Companies outside the universe may not have a higher market cap than the biggest constituents of the index.
The investor has indicated the style should be “core”, “growth at reasonable price”, or “quality growth”. It is not open to a quantitative approach.
Ideally the ex-ante tracking error would be a maximum of 6%. The strategy should have at least 30 positions, with at most 10% of capital in a single position.
Applicants should be able to verify integration of ESG in the investment process.
They should state performance to 31 March 2021.
The deadline is 17 May at 4pm UK time.
The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation 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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