SWEDEN - AP4 is looking to hire managers to run between EUR568.5m (US$500m) and EUR682m (US$600m) in new mandates.
The EUR14.3bn fund, one of the six AP Swedish state funds, is looking to hire firms to run up to EUR682m in Japanese equities and Asia Pacific (ex-Japan) equities. Funding for the mandates will come from a reduction of one of its index portfolios.
AP4 has yet to decide how many managers to hire to run those assets, although it says that managers will be appointed during the fourth quarter. The deadline for submissions of interest is May 11.
Interested managers must fulfil a variety of criteria to be considered for the AP4 mandates. The fund's requirements state that candidates should provide information about average tracking errors of the past five years, in addition to disclosing whether or not it has been the subject of an external review and all relevant details.
Other requirements include: details as to the number of mandates won and lost within the past five years; explanations as to why mandates have been lost; key movers and appointments within the past three years; tenure of the oldest mandate in the asset classes specified; and the number of similar clients in Europe, with details as to the nature and size of the mandates.
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