FRANCE – The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has made a return of more than 15% on its invested mandates so far this year.

As at September 30, he fund had grown to €24.8bn, which includes the one-off €3.08bn contribution made by the Caisse Nationale des Industries Electriques et Gazières.

Equities now account for 57.6% of the fund’s assets while 12.6% is in fixed income. Money market instruments’ share has declined to 29.8% from 35.4% at the end of June.

Since its inception in June last year, the FRR has returned 12.51%, which includes its unallocated cash.

Its invested mandates have returned 24.85% in the same period.

Since the start of this year the FRR has an overall return of 9.31% (including cash).

The invested return for the first six months was 7.5%.