France’s Fonds de réserve pour les retraites (FRR) is looking to award two investment mandates, IPE reports. The two new managers will seek to invest in French OATs, employing a buy-and-hold approach, while other countries bonds will also be considered if they are investment grade.
The mandates are part of a restructuring being undertaken by the FRR to comply with recent pension reforms in France. Under the reform, FRR will commit €2.1 billion per annum to the Caisse d’Amortissement de la Dette Sociale, the country’s underfunded social security fund, between now and 2024.
Click here for the story from IPE.