Active Asset Allocation wins €20 billion advisory mandate

Active Asset Allocation won the tender launched by Urssaf* Caisse Nationale to find an asset allocation advisor to assist the Council for Security Provision for Self-employed Workers (‘CPSTI’) in the management of the financial reserves it oversees.
 
The proposed solution aims to optimize, over the next three years, the strategic and tactical allocation of the two CPSTI schemes, within the confines of asset/liability management. To do so, it will consider the characteristics of the different asset classes, the profiles of the underlying funds, the liability profile of the schemes and their regulatory constraints.
 
For these two schemes, which total nearly €20 billion in assets, the strategic allocation study aims to identify the target exposure of reserves to the main asset classes over the long-term, as well as the tolerances around these targets. When appropriate, tactical allocation analysis may lead to changes in the plans' exposure over a shorter term horizon, with a view to reducing risks and taking advantage of market opportunities.

*Urssaf supports French employers and small business owners and collects and manages the social security contributions to provide benefits. Its role within the social security system: to finance the French social model, with €534.4 billion collected from 9.8 million users. Its social mission: to guarantee workers the benefit of social protection (health cover, pensions, family benefits) linked to employment within a legal framework. Its economic mission: to facilitate entrepreneurs’ procedures and guarantee compliance with the social rules essential to fair competition.