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FRR to award €3.1bn worth of equity mandates

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  • FRR to award €3.1bn worth of equity mandates

FRANCE - FRR, the €33bn French national pension reserve fund, has launched requests for proposals for eight US and Asia Pacific equity mandates, worth €3.1bn in total.

The fund said in a statement it will award up to four Japan and Asia-Pacific equities mandates for a total of €1.5bn.

Additionally, it will award up to four US large and mid-cap equity mandates, worth a total amount of €1.6bn.

The scheme has given fund managers until August 27 to submit their applications for the mandates.

In the statement, FRR said the  Japan and Asia-Pacific portfolio will be composed of two lots, with Japanese equities worth an indicative sum of €900m and to be split in three mandates, along with a €600m passively-managed Asia Pacific equities mandate.

The US equities portfolio, also composed of two lots, will contain two actively-managed large-mid-caps briefs managed in a value style, for an indicative amount of €800m.

The fund has also tendered two active large-mid-caps mandate in a growth style, worth €800m in total.

Last year, Vanguard Investments Europe, AGF Asset Management, Robeco and Goldman Sachs were in charge of the US active and passive equity portfolio, according to the fund's website.

It is unclear who has been in charge of the Asia Pacific brief.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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