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French reserve fund appoints auditors

FRANCE – The supervisory board of the France’s 16 billion-euro Fonds de Réserve pour les Retraites has appointed KPMG and Constantin & Associés as auditors.

“These auditors are appointed for six accounting periods and will be in charge of the bi-annual certification of the FRR detailed asset value statement (accuracy and valuation),” the reserve fund said in a statement.

“They will also provide assistance to the account committee, chaired by Mr. Jean Louis Beffa, vice president of the supervisory board of the FRR.”

The FRR said recently that it would concentrate its socially responsible investing approach on large-cap European equities at first. And the fund’s finance director, Jean-Louis Nakamura, told IPE in an interview recently some asset managers that had responded to its call for tenders had not understood its strict rules.

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