FRANCE - The total assets of the French Pensions Reserve Fund, Fonds De Reserve Pour Les Retraites (FRR) registered a return of -2.3% in the second quarter of 2006.
In spite of the “strong and sudden” downward correction in the equity markets from May, the FRR said its equity mandates progressed overall.
They outperformed their FTSE GEIS benchmark and, over the first six months of 2006, registered a return of 2.8%.
The FRR’s bond investments on the other hand generated a return of -4.4% within this same period.
By activating its bond mandates gradually, in view of the unacceptably low yields, to date, the fund said it had succeeded in limiting the impact of the deteriorating global bond market climate which saw rising long term interest rates over the last six months.
By Angele Spiteri Paris
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.