European insurer tenders emerging market equity mandate on IPE-Quest

first_imgA Europe-based insurance company has tendered a €200m emerging market equity mandate, according to a search on IPE-Quest.The unnamed investor has put out a search for an asset manager to run a euro-denominated portfolio of all/large-cap equities within emerging markets.The assets should be managed using a core style, and the insurance company has said specifically that the investment process should definitely not result in a value bias.The process has been stipulated as active, with the benchmark for the portfolio being the MSCI Emerging Markets Index. The investment process should involve fundamental analysis of countries, sectors and companies, the insurance company said.It also said it had a preference for a top-down thematic approach in the first phase of the process.Tracking error is expected to be kept between 2% and 7%.Firms responding to the search should have assets under management (AUM) for this asset class of at least €1.25bn, and total AUM for the firm of €2.5bn.Performance should be stated in US dollars to 31 May.The firm should have a track record of at least five years.The deadline for submissions is 26 June.After that, the deadline for the section of a shortlist is 15 July, followed by a deadline for submission of RFPs on 24 August.The final selection will be made by the board on 1 December, according to the search.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 directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email read more

Thousands flee major flooding across NSW

first_imgMurrumbidgee River is expected to reach major flood levels todayImage Source: Source = e-Travel Blackboard: S.P Around 4000 people across New South Wales were evacuated from their homes and forced to spend last night in emergency shelters as Wagga Wagga prepares for major flooding today. The Murrumbidgee River is likely to reach major flood levels today which have resulted in hundreds of residence in the city’s north and east having to evacuate last night, the ABC reported. After many days of heavy rain around 70 percent of New South Wales has been affected by floods or in danger of being flooded. Currently there are flood warnings for 15 river valleys throughout New South Wales.A major flood peak is predicted for Gundagai today, Gundagai’s Mayor Abb McAlister said the situation is far worse than the last major flood the area had over a year ago.”2010 was 10.2 (meters) and it’s already 10.7 here, and it wouldn’t surprise me if it goes above 10.9. That’s a lot of water above the 2010 flood,” The Mayor said. People living in parts of Jugiong, The Rock, Lockhart, Uranquinty and the Birindabella Valley have also been warned to vacate their properties. State Emergency Service Officer Rebecca Riggs said last night over 30 flood rescues were required, including a family that had driven into floodwaters in Wagga’s suburb of Lake Albert.”Two adults and three kids were trapped in a car, but they were rescued safely,” Ms Riggs said.”Don’t take risks by travelling through flood water.”You just don’t know what’s underneath it.”last_img read more