A Nordic institutional investor has started two new mandate tenders on the platform Global Fund Search.

The investor is looking for a manager to oversee a portfolio of core developed market global equities and a manager for a defensive edition of the same asset class. 

The allocation is expected to be between USD 30-50m for the core equity strategy and USD 30m for the defensive strategy. 

According to the tenders, the manager must have an active, fundamental, and bottom-up approach and hold between 40 and 130 companies in its portfolio whereas a maximum of 10% can be invested in emerging markets. 

Applicants must be able to show a minimum of a three-year track record with the existing lead portfolio manager. A minimum AUM of USD 500m is required for the core equity strategy, while an AUM of USD 300m is enough to apply for the defensive strategy. 

Furthermore, the investor requires an SFDR Article 8-compliant strategy with exclusions in line with the UN Global Compact ruleset and exclusions of controversial weapons.

The deadline for applications is August 2^nd, and the selection will be finalized in Q4.