Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, is searching for three money managers to run a total of €400 million ($501 million) allocation to a socially responsible investing strategy for Asia-Pacific equities, said a spokeswoman for the pension fund.
The €20 billion pension fund will split the allocation between two managers, and a third manager will be used on a standby basis, the spokeswoman said.
The spokeswoman said this is the first time that ERAFP will have a dedicated allocation to the Asia-Pacific region. The fund has an existing allocation to international developed markets equities, managed by Allianz Global Investors and State Street Global Advisors. “The new asset managers will manage the two portfolios managed currently by Allianz and State Street,” said the spokeswoman in an e-mail. The spokeswoman could not be reached for additional details by press time.
The new allocation will be managed with the aim of outperforming the MSCI Pacific index over the long term, and will be invested in MSCI Pacific markets, covering Australia, Hong Kong, Japan, New Zealand and Singapore.
The contracts will run for five years, with the option of three one-year extensions. Further information and the RFP are available here.