ERAFP launches a call for tenders for the allocation of four diversified fund of funds management mandates
- 21 July 2020
Paris, 21 July 2020 – With the multi-asset management mandates awarded in 2013 expiring in March 2021, the French Public Service Additional Pension Scheme (ERAFP) is launching a call for tenders for the allocation of four diversified fund of funds management mandates (two active and two stand-by mandates).
The objective for the two mandate holders will be to maximise performance while continuously seeking to deliver the best possible risk-return ratio by implementing diversified, flexible, tactical, dynamic and opportunistic asset allocation. The managers will adopt a fundamental approach, being tied to a benchmark, to build a portfolio based on a rigorous asset allocation and fund selection process in compliance with ERAFP's SRI framework.
Bearing this in mind, the mandate holders must:
- seek to maximise the portfolio's performance while limiting its one-year losses by implementing a risk budget measured with reference to the maximum loss over a calendar year;
- be able to assess the robustness of the processes used to integrate ESG factors put in place by the firms managing the underlying funds.
As an indication, the overall amount invested under the two active mandates, upon the launch of the two new mandates, will be around EUR 1 billion.
The mandate will last 4 years and can be renewed for two successive one-year periods, for a maximum duration of 6 years.
The tender file is available at www.achatpublic.com. There is also a link to this platform from ERAFP's website(www.rafp.fr).