FRANCE - The €31.3bn Fonds de réserve pour les retraites (FRR) has awarded five passive management mandates worth €500m to a group asset managers. The mandates have been awarded for a period of three years, and may be extended to four years.
It meant North American (US and Canada) large and mid cap contracts were awarded to BlackRock Asset Management and Vanguard Investments Europe SA. Barclays Global Investors was also appointed as a stand-by manager.
In terms of the Euro-area, large cap equities have been awarded to Vanguard Investments Europe SA, Barclays Global Investors and UBS Global Asset Management France.
The FRR said it was delighted with the quality of the proposals submitted and thanked all the candidates.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.