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.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.