Fonds de Reserve pour les Retraites, Paris, is searching for up to four active managers to run a total of €600 million ($681.7 million) in Japanese equity, a spokeswoman said.
The €36 billion French reserve pension fund will select quantitative, Japanese equity or global money managers that are permitted to base the portfolio management inside the European Union, excluding the U.K., the spokeswoman added.
The size of each contract has not yet been decided, she said. FRR will invest in all-cap equity listed at Japanese trading venues. The selected managers are expected to be benchmarked against the MSCI Japan Investible Market index.
Proposals are due by noon Central European Time on March 1 via European procurement website Tenders Electronic Daily. FRR expects to hire managers at the end of this year, the spokeswoman added.