Multi-manager OptiMix has awarded Credit Agricole Asset Management a mandate to manage 100 per cent of its allocation to international inflation-linked bonds.

Credit Agricole chief executive Richard Borysiewicz said the mandate was initially worth $280 million, but could vary between $200 million and $400 million.

"OptiMix are tactical in how they use the funds in the global inflation-linked bonds asset class," Borysiewicz said.

At the time of announcement, Borysiewicz foreshadowed further wins for its Global Inflation Linked Bonds product.

"We have a number of interested parties ranging from consultants to pension funds," he said.

Credit Agricole head of duration and inflation management team Isabelle Vic-Phillipe said the case for investment into inflation-linked bonds by institutions was compelling.

"The market is on the cheap side at the moment ... but once inflation hits it will be too late to invest," she said.

Borysiewicz said investing in inflation-linked bonds was insurance against future possible scenarios and it was too strong for insto investors to ignore.

This is the second mandate OptiMix has awarded to Credit Agricole this year. In July Credit Agricole was appointed to its global shares portfolio.

"OptiMix has an extremely rigorous selection process for deciding investment managers. We delve into ownership, team expertise, investment process, risk management, complementary skills and quantitative ability," INGIM multi strategies group chief investment officer Emmanuel Calligeris said at time.

Borysiewicz said Credit Agricole's merger with Societe Generale was on track, with the launch of their combined asset management arm Amundi Asset Management expected early next year.

"Australia will be one of the quicker ones as the regulation is more flexible," he said.

It will have around $2.6 billion in assets under management.