Fonds de Reserve pour les Retraites, Paris, issued an RFP for up to three active Japanese equities managers to run a portfolio totaling €400 million ($521 million), according to a fund official who asked not to be identified.
The portfolio now is managed by Fidelity Investments, Daiwa SB Investments and DIAM International. Their contracts expire next year; all three are invited to rebid. The deadline for proposals is July 24.
Managers are expected to be announced in the fourth quarter of this year or the first quarter of 2014. Further information can be obtained via the €36.6 billion fund's dedicated procurement website.