Fonds de Reserve pour les Retraites, Paris, hired three managers to run its €450 million ($552.8 million) active Japanese equities allocation.
The €36.6 billion pension fund hired Capital International, J.P. Morgan Asset Management and Schroder Investment Management to run the allocation for a four-year period, said a statement on its website. It could not be learned by press time how the allocation will be split among the managers. There is the option of a one-year extension.
Executives at the pension fund could not be reached for comment by press time.