IPE's France Coverage – Page 9
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NewsInvestment restrictions eased for France’s €30bn ERAFP
Cap on equities and unlisted asset funds raised from 40% to 45% as part of changes to regulatory investment framework
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NewsFrance expands scope for new pension vehicles in IORP II bill
Government calls on insurance sector to take up opportunity offered by FRPS vehicles and help make a success of the PACTE law’s retirement savings reform
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Special ReportFrance: Act I of the pensions big bang?
The government’s PACTE law could transform the pensions landscape
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NewsFRR launches ESG portfolio analysis searches and updates RI policy
Responsible investment strategy for 2019-23 includes aligning portfolio with 1.5-2°C warming trajectory and defining an ‘extra-financial risk budget’
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French government adviser delivers pension reform recommendations
Report elaborates vision of a points-based universal system to replace the 42 schemes that form the current mandatory state-backed system
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NewsFrance’s ERAFP keeps its eye on portfolio diversification
The €30bn pension fund is seeking to shift investments towards equities, private equity, real estate and infrastructure
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France’s Agirc-Arrco cuts deficit, adopts SRI charter
The reported deficit in the newly merged schemes fell from €2.9bn to €1.6bn ahead of a targeted return to financial equilibrium in 2020
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€28bn nuclear decommissioning fund adopts new MSCI climate indices
Energy giant EDF says it believes in ‘enabling transition to a low carbon economy’ and plans to allocate to assets benchmarked to MSCI’s third range of climate-related indices
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NewsBlackRock cites auto-enrolment, UK’s NEST as model for French reform
Asset manager sets out a host of recommendations for pension saving reforms contained in the Pacte law, including auto-enrolment and pensions dashboards
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ESG roundup: LSE buys analytics provider Beyond Ratings
Also: Exclusions lead sustainable investment surge in Switzerland; EIOPA consults on climate change and Solvency II; UK minister says schemes ‘doing the right thing’ on climate change
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NewsFrance’s FRR awards €1.7bn domestic, European small cap mandates
Award concludes search launched in April last year, with US small cap and Japanese equity searches still outstanding
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Mandate roundup: Ircantec awards five mandates worth €2.8bn [updated]
Plus: German church fund awards currency overlay mandate to Metzler; Italian education workers’ scheme shakes up manager line-up; Hampshire hires JP Morgan
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Reserves crucial for new pensions system, say French investors
Investor association Af2i sets out views on unified French pension system after reform law passed
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Commission launches infringement action against 17 states over IORP II
Proceedings launched for “non-communication” of transposition measures after January deadline
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Custodian KAS Bank embraces €188m takeover bid
Dutch custodian to become ”worldwide centre of excellence” for pension funds with additional alternatives capabilities
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News‘Brutal’ stock markets hurt FRR’s return in 2018
French reserve fund posts 5.2% investment loss after return-seeking assets fall 8%
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IORP II: How the EU directive has reshaped the pensions industry
IPE explores how the IORP II directive has been implemented across EU member states
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NewsFrance’s Sacra latest to launch new FRPS pension vehicle
Insurance sector scheme turning into an ‘FRPS’ with €3bn investment portfolio
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NewsAXA to build private debt partnership with Capzanine
AXA Group companies buy out Eurazeo stake to improve client access to mid-cap private debt assets
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ERAFP awards ‘unbenchmarked’ EM corporate bond mandate
Portfolio run by Aberdeen to comprise conviction holdings meeting certain ESG criteria
