ERAFP launches a call for tenders to select three managers of mid and large cap equities – United States

Paris, 5 April 2013 – In line with ERAFP’s policy of broadening its investment universe and in accordance with the five values of its SRI charter, the French public service additional pension scheme is launching a restricted call for tenders for the allocation of three mid and large cap equity portfolio management mandates in the United States.

ERAFP has decided to pursue its asset allocation diversification programme by investing in US equity funds. ERAFP is seeking conviction-based management with no tracking error limit for these mandates. The portfolio will be invested mainly in mid and large cap US equities, with a long-term investment horizon and an objective of outperforming the main US indices.

The portfolio’s composition must comply with ERAFP’s SRI guidelines. To this end, the investment company will be required to analyse each portfolio line in the light of the ERAFP’s SRI guidelines, either in-house or using outside providers.

Management must be based on an in-depth fundamental analysis of each portfolio line and dialogue with the target companies. With this in mind, priority will be given to local firms.

As an indication, the amounts to be invested within a three-year period could total around €300 million.

The length of the initial contract is five years; ERAFP may extend this contract for three successive one-year periods.

The tender file is available at www.achatpublic.com. ERAFP’s website (www.rafp.fr) also has a link to this platform.