FRANCE - The €35bn (US$54.7bn) Fonds de reserve pour le retraite (FRR, France's reserve retirement fund) has placed four mandates out to tender.
The Japanese equities mandate would be run as a total market, active strategy worth up to €900m. FRR said up to three managers may be appointed for this activity.
The €600m Asia-Pacific (ex Japan) equities strategy would be run as a passive mandate for on a single manager basis.
The US equities mandates would be split into two separate active management lots, each worth €800m. The mandates will focus on large and mid cap growth and value strategies respectively.
The FRR said interested parties should submit tenders by 12 noon (Paris time) 27 August.
The People's Pension, Atlas Master Trust and The Cheviot Trust have been granted authorisation from The Pensions Regulator (TPR), taking the total number of authorised master trusts to 18.
Pension schemes have been warned they may now face a more challenging legal test if they wish to fix drafting errors.
The Greene King Pension Scheme has appointed XPS Pensions as its actuarial and investment adviser following a competitive tender process.
Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...