Searches and Hires

Danish National Research Foundation on lookout for emerging markets equity manager

The Danish National Research Foundation, Copenhagen, is searching for a global emerging markets equity manager to run a €30 million ($34 million) allocation, according to a notice on European procurement website Tenders Electronic Daily.

The 6 billion Danish kroner ($911 million) foundation intends to find at least 20 managers in a pre-qualification tender process before it shortlists five firms to participate in a second phase.

Managers need to demonstrate that environmental, social and governance considerations are taken into account when constructing the portfolio.

Managers must have a two-year track record and a platform for collective investment in a transferable securities fund vehicle. The number of stocks in the selected global emerging markets equity portfolio will consist of a minimum 45 stocks as of June 30.

Emerging markets equity makes up 3.9% of the foundation's asset allocation and is currently managed by Danske Invest. A spokeswoman declined to comment beyond the procurement notice, including whether Danske Invest can rebid. The foundation's official benchmark is MSCI Emerging Markets index.

Managers running regional, country-specific strategies and emerging markets small-cap or frontier markets strategies are ineligible to participate in the search.

The contract will last three years, with two optional one-year extensions.

Submissions should be sent by midnight Central European Time on Nov. 29. A timeline for a hiring decision was not provided.