Fonds de Reserve pour les Retraites, Paris, is looking for a currency overlay manager to run an undisclosed amount, said an announcement on the pension fund’s website.
The €36.6 billion ($46.8 billion) pension fund earlier launched a search for a manager to provide a passive foreign exchange hedge to cover exchange rate risk.
The overlay contract will last four years, with the option of a one-year extension. Deadline for application is Dec. 1. The RFP is available on the fund's website. Information on the timing of a hiring decision was not available.
Currently, State Street Global Advisors (France) manages an overlay for the pension, according to the fund's 2013 annual report.
Spokesmen were not available to comment by press time.