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.
Jonathan Stapleton says the success of the government's check your state pension service shows just how popular a dashboard could be if it can be launched.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.