Searches and Hires

ERAFP taps Aberdeen for ESG bond allocation

Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, hired Aberdeen Standard Investments to manage €160 million ($182 million) in corporate bonds with a socially responsible investing approach, the €30 billion pension fund said in a statement on its website.

ERAFP also appointed Amundi, BFT Investment Managers and Investec Asset Management on a standby basis, a spokesman said.

Aberdeen will provide unbenchmarked, conviction-based management of an emerging market corporate bond portfolio, aimed at minimizing default risk.

The manager will integrate environmental, social and governance criteria into its fundamental analysis, according to ERAFP's SRI policy.

All contracts were awarded for five years, with an option to extend them twice for one additional year each time.

An RFP was issued in April.

ERAFP had €5.5 billion invested in corporate bonds and €204 million invested in emerging markets corporate bonds as of Dec. 31.