CIPAV, Paris, hired four money managers to run a "flexible allocation" strategy that invests in European Union and Organization for Economic Cooperation and Development market securities via dedicated funds, according to a notice on European procurement website Tenders Electronic Daily.
An RFP was issued in August.
Allianz Global Investors, Candriam Investors Group, AXA Investment Managers and DWS Group will run the allocation for the €5.3 billion ($6 billion) multiemployer pension fund for doctors, pharmacists, dentists, accountants and other professions. The size of the allocation could not be learned. The contracts will last for five years, with a possible one-year extension.
A CIPAV spokesman could not be reached for further information.