FRANCE - Financial assets at the French pension reserve fund (FRR) have reached e24.8bn, with 29.8% of its assets invested in money market instruments while it bides its time to invest in bonds, the fund has revealed.
The total assets have increased by e1.3bn with a 15.12% increase in performance of mandates invested in marketable securities since the beginning of 2005.
Antoine De Salins, member of the board for the FRR, would not elaborate on when he thought the fund would become fully invested in bonds. “We have delayed being fully invested in euro bonds for the obvious reasons, but we are still looking closely at the evolution of interest rates in the euro zone and also in the US. However, we are technically ready to seize any opportunity of investment If the level of interest rates seems satisfactory,” he said .
He added: On the mandate performance, it is too soon to draw precise conclusions, but we obviously follow closely the progress of each of our mandates.
“Since we began, we have had a huge amount to do, but this work has produced very good results. We are now fully invested in equities with regards to our strategy.
The fund’s assets are invested as follows: European and international equities 57.6%; fixed-income instruments 12.6%; and money market instruments 29.8%.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.