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.
An RFP was launched in June 2013. The portfolio was previously managed by Fidelity Investments, Daiwa SB Investments and DIAM International, whose contracts expired this year.
Executives at the pension fund could not be reached for comment by press time.