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ERAFP, the French pension fund for civil servants, has awarded mandates for the management of its US equity portfolios, which now include dedicated mid-cap investments.
The pension fund did not previously have dedicated US mid-cap mandates, but added these when it last year launched a call for tenders ahead of its US large-cap mandates expiring at the end of 2020.
Today ERAFP announced it had chosen BFT Investment Managers, with the financial management delegated to Morgan Stanley Investment Management, for US mid-cap equities.
The mandate is for around €150m, according to ERAFP. Schroder Investment Management and Amundi are on standby.
Ostrum Asset Management and Oddo BHF Asset Management have been awarded US large-cap mandates for around €1.1bn in total. According to ERAFP, they have delegated the financial management to Loomis Sayles and Wells Cap Management, respectively.
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