FRANCE - The Fonds de Réserve pour les Retraites (FRR) has awarded US small cap equity mandates, worth a combined €500m ($790.5m) over five years, to BlackRock and Allianz Global Investors.
The FRR decided to geographically rebalance its equities for "greater diversification", a spokesman said at the time.
The fund opted to decrease its exposure to equities across the whole Eurozone, with the exception of domestic holdings.
In February, the FRR reported that government endowments had helped its assets rise by €3.3bn, despite its investments only producing a 4.8% return net of fees.
Some €1.7bn from the French government buffered the fund which had posted a 5.7% year to date return at the end of September 2007.
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
In this week's Pensions Buzz, we want to know if you think trustees should consult directly with members before agreeing to a DB superfund buyout.
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?