FRR assets grow 25% in 12 months

Related Categories

FRANCE  - Fonds de Réserve pour les Retraites (FRR), France’s national pension reserve, has seen its strong growth of 2009 continue into the first quarter of 2010, posting a return of 2.6% for the three-month period.

FRR’s total assets were €34.5bn at the end of March 2010, up almost 25% compared to the €26bn under management at the same time last year.

In a statement, Fonds de Réserve pour les Retraites accepted that markets were beginning to recover but warned of the instability within the euro-zone.

“The first quarter was marked both by the confirmation that the global economy was undergoing a modest recovery, which supported the equity markets, and by volatility due in particular to concerns related to strategies for consolidating public finances, particularly within the euro-zone,” the statement said.

FRR has continued a strategy that saw it invest almost 55% in performance assets and the remaining 45% in fixed income and money markets. Most of the 55% portion was invested in equities, along with a 5% exposure to commodities and another 3.2% invested in real estate assets.

FRR recently named Philippe Aurain as its new chief investment officer, following the departure of Nicolas Sobczak (See earlier IPE article: FRR promotes Aurain to CIO).

Related images

  • FRR assets grow 25% in 12 months

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2517

    Asset class: Fixed income.
    Asset region: Global.
    Size: $70m.
    Closing date: 2019-03-20.

  • QN-2519

    Asset class: Fund wrapper.
    Asset region: Global.
    Size: EUR 80m.
    Closing date: 2019-03-29.

Begin Your Search Here