FRANCE – The Fonds de Réserve pour les Retraites, the French reserve fund, says it has grown to just over 17 billion euros and has activated mandates involving 4.82 billion euros.

“On June 30, 2004, the FRR's global assets totaled seventeen billion, nine hundred and twenty-five thousand, six hundred and fifty euros and twelve cents,” the FRR stated.

“The FRR began activating its various portfolios in late June of this year, an activity that it continues in accordance with financial market conditions and trends.

“As of October 31 2004, activated mandates involve 4.820 billion euros, which is 30.1% of the amount indicated in the request for proposal that ended last June (16 billion euros).”

The fund has also seeking, via a competitive dialogue process, one or more providers of communications related services. The first involves communications strategy and visual identity. The second concerns the design and upkeep of the FRR's new web site.

The deadline for submissions is December 28.