FRANCE - The Fonds de Réserve pour les Retraites' - the €28.1bn French Pensions Reserve Fund – plans to hire an external provider of performance measurement services.

The FRR said it had begun a process “to select a consultant with expertise in analysing the performance of funds and managed accounts.”

The consultant will be responsible for constructing peer groups for several asset classes, with the aim of assessing the performance of the FRR’s managed equity and bond portfolios.

A spokesperson for the FRR said, “We don’t know at this time how long the contract will last. Either it will be a short-term contract or longer depending on the offers.”

He added that the consultant need not be a “pure consultant”. Interested parties could also include database administrators or software producers.

The closing date is August 8. The FRR hopes to appoint the consultant by the beginning of September.

No external adviser will be used in the selection process.