France’s ERAFP allocates €4.6 billion to 7 eurozone, European equity managers

Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, hired seven money managers to run eurozone and European equity allocations totaling €4.6 billion ($4.9 billion), confirmed a spokeswoman.

The €23 billion pension fund also made seven standby hires, which may be activated at any time. The allocation is split into five separate contracts that each run for six years. All allocations must be run with a socially responsible investment approach. The pension fund launched a search in June 2016.

Amundi Asset Management was hired to run a low-carbon index-based mid- and large-cap eurozone equities allocation. THEAM was chosen as the standby manager.

Allianz Global Investors, Edmond de Rothschild Asset Management and Mirova were chosen to run fundamental, non-benchmarked mid- and large-cap eurozone equities. Sycomore Asset Management and OFI Asset Management were hired on standby.

AXA Investment Managers was hired to run an allocation to fundamental, non-benchmarked mid- and large-cap eurozone equities with equity risk management. CPR Asset Management and Mandarine Gestion are standby managers.

Fundamental, non-benchmarked European small-cap equities will be managed by BFT Investment Managers, with Kempen Capital Management and La Financiere de l’Echiquier on standby.

Candriam was hired to run a fundamental, non-benchmarked European mid- and large-cap equities allocation. NN Investment Partners and Comgest are on standby.

Details of allocation values and previous managers could not be learned by press time.