French and Dutch firms win €200m European growth mandate

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France's state pension fund Fonds de Réserve des Retraites (FRR) has selected three firms to manage its ESG-driven European equity growth mandates. 

French boutique Financière de l'Echiquier, Kempen Capital Management of the Netherlands and French giant AXA Investment Managers have been awarded three separate mandates which will invest in European equities using a sustainable investment approach.

The three groups will run three-year mandates that invest mainly in small and mid-caps that have implemented environmental, social and corporate governance (ESG) policies or plan to do so.

The mandate tender was launched in November 2011 by the FRR, one of France's biggest pension funds with over €35 billion in assets under management, and is worth over €200 million.