FRANCE – The Fonds de Reserve pour les Retraites has now put out to tender the mandates for the entire 16 billion-euro retirement reserve fund.

The FRR sent the official public call for tenders notice to the Official Journal of the European Union yesterday for the 27 asset management mandates together with 12 stand-by mandates allocated over twelve asset categories.

The official tendering follows the release of details of the mandates by the fund on July 24.

Interested managers will have until September 12 to submit their application, and will be notified around the end of October as to whether they have will have been invited to the second stage. The final mandate awards will be given in the first quarter of 2004.

A brief outline of the mandates is given below. Further details including how to apply can be found in English and French on the website

Thirty-eight percent of the fund will be invested in euro-zone equities. Of this amount, there are three passive mandates of one billion euros each, and seven active mandates of 200 million euros and 620 million euros.

Seventeen percent of the fund is to be invested in non-euro-zone equities, comprising one passive mandate of 640 million euros and seven other mandates ranging from 200 to 460 million euros.

In fixed income securities, 38% is to be invested in euro-zone bonds and 7% in non-euro-zone bonds. This comprises six 960 million euro active mandates, one inflation-linked international bond mandate, and two further mandates each of 480 million euros.

Candidates have to ask for a login and password at