Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, is searching for an active multiasset manager to run €100 million ($123 million), confirmed Alice Blais, spokeswoman at the €12 billion pension fund.
This is the pension fund's first multiasset allocation. Funding comes from cash.
ERAFP is looking for a multimanager or fund-of-funds approach as “we don't expect to find a single manager with a strong expertise in direct investments across all asset classes,” Ms. Blais said in an e-mail. Global macro hedge funds will not be considered.
“The manager will adopt a fundamental approach, without any benchmark constraint, to build a portfolio based on a rigorous asset allocation and fund selection process in compliance with ERAFP's SRI guidelines,” according to the pension fund's website.
The RFP is available on the French public procurement website, www.achatpublic.com.
Proposals are due Sept. 13. A selection is expected by March 31, 2013.