A large French public sector pension fund is looking for asset managers to take on â¬1.2bn ($1.9bn) in international equities and euro-denominated fixed income mandates, in a significant shift of its investment strategy away from government bonds.
Over the next three years, the â¬4.7bn Etablissement de Retraite Additionnelle de la Fonction Publique (Erafp) pension fund plans to invest about â¬150m annually across three international equities mandates, which will exclude emerging markets. It will also invest about â¬250m per year in two mandates focused on financial instruments based on euro-denominated investment grade bonds.
