A tender has been issued for the provider of a database on mutual funds to cover both open- and closed-end funds worldwide.

Information has to be broken down into past performance, the benchmark used, net asset value levels, fees, the investment constraints.

"This tool will help the FRR to choose between active and passive management mandates for each asset class," the fund explained to IPE.

"It will also help the FRR get a more comprehensive knowledge about the asset management industry."

Applications are welcome providers from companies based anywhere in the world, it was confirmed.

However, tender documents must be submitted in French by the July 3 deadline.