FRR taps 3 managers to use ESG factors on equity allocation

Fonds de Reserve pour les Retraites, Paris, hired Amundi Asset Management, Robeco Institutional Asset Management and Candriam Luxembourg to manage a €5 billion ($5.2 billion) equity allocation using an environmental, social and governance approach.

The €37.2 billion pension fund launched a search in July to “optimize its replication of equity indexes with an environmental, social and governance approach,” FRR said at the time.

FRR said in a news release Monday that it intends to work with the managers to “assist it in implementing its responsible investor strategy and to apply, to index replication, the best practices in terms of integrating ESG factors.”

Each of the contracts has been awarded for a period of four years and may be extended by one year.

A spokeswoman for the pension fund was not available to comment by press time.