Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, hired Amundi to run a multiasset fund-of-funds portfolio of up to €300 million ($385 million), according to spokeswoman Alice Blais.
The portfolio must adhere to the €15 billion fund's socially responsible investing guidelines. ERAFP plans to invest as much as €150 million in the first year and up to €300 million over three years. Funding comes from cash.
The portfolio will invest in multiple asset classes and will not be tied to a benchmark. The contract is for a total of four years, with two two-year renewal options.
BNP Paribas Asset Management and Neuflize OBC Investissements were named as stand-by managers, which may be funded at a later date.
