FRANCE - Investment returns at the Fonds de Réserve pour les Retraites (FRR) are up 12.8% since the start of the year helping to bring its total assets to €31.9bn (US$47.2bn), the pension fund said.
Total assets at the end of 2008 were €27.7bn. Since its inception in June 2004, investment returns are up 2.6%.
"This performance is mostly attributable to the strong rebound in the equity markets observed since the second half of March," FRR said in a release.
The scheme, set up to pay future pension needs, invests 49.5% combined in equities, real estate and commodities. The remaining assets are invested in cash and bonds.
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