The French public service additional pension scheme (ERAFP) has launched an open call for tenders for the award of three asset management mandates.
The successful asset managers at the close of the tender will be awarded an SRI Pacific Equities mandate, with the aim of outperforming the MSCI Pacific index over the long term.
Stock-picking will be based on fundamental analysis of companies and on regular discussions with their managers. Following a decision by the board of ERAFP to implement an exclusively SRI policy, investments will have to be made with a long-term outlook and be consistent with ERAFP's SRI approach.
Issuers will be evaluated using ERAFP's own SRI frame of reference and selected in accordance with the best-in-class principle. Portfolio companies will be required in particular to comply with international standards on human rights, employment rights, the environment and market conduct.
Investment will be made in MSCI Pacific locations including Australia, Hong Kong, Japan, New Zealand and Singapore.
Approximately €400m in total will initially be entrusted to two asset managers. The third manager selected will be awarded a stand-by mandate. The initial term of the mandates is five years, which ERAFP has the option of extending by three successive periods of one year each.
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