FRANCE - The FRR (Fonds de Réserve pour les Retraites, French Pensions Reserve Fund) posted a 4.3% return for the first quarter of 2006 with assets rising to e28.1bn.
This up from e26.6bn at the close of 2005 with good performance in the first quarter attributed to “continued benefit from excellent stock market conditions, particularly in Europe.”
At 31 March, the FRR was invested 23.8% (e6.7bn) in the cash and money market. The remaining 76.2% (e21.4bn) was invested in marketable securities. Of these, 2.9% was in non-euro bonds, 15.7% in euro bonds, 16.7% in non-euro equities and 40.9% in euro equities.
Performance of total assets since inception in 2004 was 20.6%.
By Lisa Haines
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.