Ircantec, Paris, is searching for two managers to run an €800 million ($929 million) quantitative equity allocation, said Caroline Le Meaux, head of external asset management, in a telephone interview.
Each of the two managers will be running €400 million for the €9.8 billion French pension fund, Ms. Le Meaux said. The allocation is in addition to the current €450 million Ircantec has invested in quantitative equity strategies, she added. Ircantec increased its equities exposure to 40% from 29% at the expense of government bonds.
Allianz Global Investors, Robeco and BFT Investment Managers are the current quantitative equity managers. All three are eligible to bid.
Proposals are due by Nov. 14. The RFP is available on Ircantec's website.
The board of trustees will award the contract by June 2018. The contract will start in September 2018.