FRANCE - The Fonds de Réserve Pour les Retraites was down 4.2% in the second quarter, reversing gains in the first three months of the year.
The FRR said its return on investments was -1.7% for the first half of 2010, after a positive return of 2.3% in the first quarter.
"The second quarter was characterised by highly volatile interest rate and equity markets across the board attributed to anxiety over sovereign debt and doubts about the strength of economic growth," the FRR said.
Total assets at the end of June were €33.1bn ($44bn), up 15% from a year earlier but down 2% from the start of the year.
FRR allocates 47.4% of its assets to fixed income and money market funds, 44.3% to equities, 4.7% to commodities and 3.6% to real estate.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.