FRANCE- The Fonds de réserve pour les retraites (FRR) has doled out €1.1bn (US$1.5bn) in equity mandates to seven managers, though the appointments are a scaled-down version of what the scheme had proposed last year.
FRR also hired five managers to run a combined €600m active small-cap European equities portfolios. They are: Allianz Global Investors, Kempen Capital Management, Montanaro Fund Managers, Scottish Widows Investment Partners and Threadneedle Asset Management. FRR had originally planned to allocate €1.5bn.
Officials at FRR did not return calls for comment before press time.
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Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point