Fonds De Reserve Pour Les Retraites, Paris, will search for up to 27 firms to shift its 16 billion euros ($18.36 billion) in assets to external managers, said Christelle Cuzou, spokeswoman. RFPs will be issued to managers in eurozone equities (38% of total assets); non-eurozone equities (17%); eurozone bonds (38%); and non-eurozone bonds (7%).
Within the non-eurozone equities component, portfolios are: 640 million euros in passive U.S. large-caps; 460 million euros each in active U.S. large-cap value and growth; 200 million euros in U.S midcap; and 400 million euros in Asia-Pacific developed markets equities. The non-eurozone bonds component has two 480 million euros portfolios, each including both government and corporate bonds. The other mandates are active large-cap, midcap and small-cap eurozone equities; passive eurozone equities; and eurozone bonds. Only one manager will be hired to run each portfolio, Ms. Cuzou said.
Mercer Investment Consulting is assisting. Appointments will be made in the fourth quarter.