FRANCE - The Fonds de Réserve pour les Retraites (FRR) has put e600m out to tender for several socially responsible investment asset managers.
The FRR intends to award a maximum of six asset management mandates, including one stand-by, for a global indicative amount of e600m, although this could grow as the FRR’s resources evolve, advised the fund.
The investment universe is restricted to European large and mid caps.
The FRR’s approach is both inclusive and multi-criteria. It does not call for excluding certain economic sectors from the manager’s investment universe, but instead for giving preference when investing on the FRR’s behalf in businesses that present the best profile based on a combined financial and extra-financial analysis, including respect for international law and fundamental worker rights, job creation via improved human resources management, corporate environmental responsibility, and respect for consumers and fair trade practices in local markets.
The deadline is Thursday, August 25, 2005 at 12:30 pm (French time).
BFinance, the UK consultant, is to assisting FRR with the SRI tender. The FRR’s Manager Selection Committee will also be called on in the process, which should be completed by early 2006.
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