Following a tender process, Mercer Investment Consulting has been appointed by the Fonds de Reserve pour les Retraites (FRR) to assist with selecting investment fund managers.
The FRR (French Reserve State Fund) is designed to provide future support for the French Pay-As-You-Go State pension system through financial investments. It was set up in 1999 and at the end of March 2003, its funds amounted to over €13.1 billion.
The team managing the project will be based in Paris, but draw on resources from Mercer throughout the world. “The emergence of a new international institutional investor, of FRR’s calibre, is a major event,” says Thierry Brevet, Head of Mercer Investment Consulting in France. “We are proud to have been chosen and will put all our research efforts into this project.”
“Our experience of working with State Reserve Funds worldwide and our knowledge of investment managers will enable us to help FRR reach its objective of becoming a global leader in the investment world,” adds Gilles Beneplanc, Worldwide Partner and head of Mercer’s retirement operations in France.