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.
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