The Fonds de Reserve pour les Retraites has now put out to tender the mandates for the entire e16bn retirement reserve fund.
The FRR sent the official public call for tenders notice to the Official Journal of the European Union for the 27 asset management mandates together with 12 standby mandates allocated over 12 asset categories. The official tendering follows the release of details of the mandates by the fund in July.
Interested managers will have until 12 September to submit their application, and will be notified around the end of October as to whether they have will have been invited to the second stage. The final mandate awards will be given in the first quarter of 2004.
Thirty-eight per cent of the fund will be invested in Euro-zone equities. Of this amount, there are three passive mandates of e1bn each, and seven active mandates of e200m and e620m.
Seventeen per cent of the fund is to be invested in non-Euro-zone equities, comprising one passive mandate of e640m and seven other mandates ranging from e200m to e460m.
In fixed income securities, 38% is to be invested in euro-zone bonds and 7% in non-Euro-zone bonds. This comprises six e960m active mandates, one inflation-linked international bond mandate, and two further mandates each of e480m.
Further details including how to apply can be found in English and French on the website Candidates have to ask for a login and password at