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.
A new criminal offence of neglecting pension responsibilities will be announced in a pensions white paper this week, the prime minister has confirmed.
Despite improvements in investment manager attitudes towards responsible investment, research reveals there is a way to go before the majority deliver meaningful action. Victoria Ticha explores why
The Co-operative Bank is set to continue de-risking pension schemes after it mitigated further losses by switching from the retail prices index (RPI) to the consumer prices index (CPI).
A model aimed at reducing climate change-related financial risk exposure from corporate credit assets has been launched by Insight Investment.