ERAFP awards three mandates to manage currency risk hedging for its assets.

Paris, 25 February 2026 – L’Établissement de Retraite additionnelle de la Fonction publique (ERAFP) has just awarded an active mandate to Russell Investments France and two stand-by mandates to Amundi Asset Management and BNP Paribas Asset Management Europe to manage currency risk hedging for its assets.

In May 2025, ERAFP launched a call for tenders to select three service providers responsible for the overall management of currency risk hedging for its assets.

Following the selection process, the proposal from Russell Investments France—notably due to the robustness of its proposed management process—was deemed best suited to meet ERAFP’s requirements. The active mandate was therefore awarded to this firm. The two other managers selected for "stand-by" mandates are Amundi Asset Management and BNP Paribas Asset Management Europe.

For reference, the notional amount to be covered at the start of the mandate is expected to be around €4.1 billion.

The mandates will have an initial term of four years, with the option for ERAFP to renew the contract for two successive two-year periods.