Searches and Hires

France’s CAVAMAC selects 6 managers for bonds

Caisse d'allocation vieillesse, Paris, hired six managers to run €240 million ($275 million) in bonds, according to Olivier Jesequel, director at consultant bfinance, which assisted with the search.

The €900 million mandatory French social security fund hired HSBC Global Asset Management and Edmond de Rothschild Asset Management to each run an €80 million government and corporate euro-denominated bond allocation. Allianz Global Investors was also selected on a standby basis.

The social security fund, known as CAVAMAC, also picked ODDO BHF Asset Management and Candriam Investors Group to each run a €40 million high-yield euro-denominated bond allocation. OFI Asset Management was selected as the standby.

The RFP was issued in June.