ERAFP launches tender for selection of three SRI Pacific Equities managers

Paris, 16 December 2014 – As part of its mandate renewal process, the French public service additional pension scheme (ERAFP) has launched an open call for tenders for the award of three asset management mandates.

At the end of the tender, the chosen asset managers 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. In line with the board's decision to implement an exclusively socially responsible investment (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 (Australia, Hong Kong, Japan, New Zealand and Singapore).

By way of indication, approximately €400 million 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.

The consultation document is available at www.achatpublic.com.