Fonds de Reserve pour les Retraites (FRR), Paris, is seeking passive equity managers to manage a combined €2 billion, Pensions & Investments reports. The selected passive managers tracking cap-weighted indexes will manage €1 billion, while the remainder will use managers tracking non-cap-weighted indexes.
The mandates, which will be for indexes in developed countries in Europe, the U.S. and Asia, will not be affected by the French government’s recent decisions to draw down the fund’s assets over time to help plug budget deficits. All the interested candidates are required to submit their proposals by Feb. 28, 2010.
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