France’s FRR awards €1.7bn domestic, European small cap mandates

first_imgThe public fund is in the middle of the selection process for US small cap mandates, and in the early stage of the selection process for Japanese equity mandates.In February FRR announced it had lost 5.2% in 2018, its first investment loss in eight years. The stock market fall in the last two months of the year had dramatically affected its performance, it said.Further readingWhy FRR doesn’t invest in green bonds – for nowOlivier Rousseau, executive director of FRR, explains the French pension reserve fund’s approach to green bonds France’s FRR addresses Brexit concerns in manager searchThe €36bn fund took steps to remove Brexit-related uncertainty from having an adverse effect on the small cap manager search FRR’s headquarters in Paris France’s €32.6bn Fonds de réserves pour la retraite (FRR) has chosen the managers it wants to run an indicative €1.7bn in French and European small cap equity strategies.JP Morgan Asset Management, AXA Investment Managers, BNP Paribas Asset Management and Fil Gestion have landed European small cap mandates, to which the pension reserve fund previously indicated plans to allocate up to €1.1bn.  HSBC Global Asset Management, Amiral Gestion, Sycomore Asset Management, and BFT Investment Managers have been chosen to run up to €600m in domestic small cap investments.The tender was launched in April last year, with FRR saying it would pay particular attention to how managers integrated environmental, social and corporate governance (ESG) issues in their processes. It has tightened its ESG focus for all manager searches.  last_img read more

National Day of Prayer Celebrated in Alpena

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Over 100 people gathered on the lawn in front of the Alpena City Hall Thursday, to honor the National Day of Prayer. The annual event that is recognized all over the United States was held at noon where locals and visitors gathered for an hour of prayer.The theme for the year was called: “For Your Great Names Sake.” Pastor Doug Bliss presented the message of the hour stating that the not only does the community need prayer, but the entire United States.“Our nation is in great need of change. We are a divided country right now and we need God’s hand to move in our lives as a nation. We need the people of the United States to be humble, and allow God to come back into this land and bring healing to our land,” Bliss said.Bliss said in order to see change; it starts within the community through communication with families being an example of the change. There were over 6 prayers during that hour, including prayer for the military, workers of the community, fire and police, and even the media.“I pray that you would strengthen and direct the well of journalist in our community. Help those reporters stand up to injustice, to expose lies and truth, and to promote respect,” Bill Speer of Alpena News.“I feel great pride in knowing that the community can come together and pray for everybody. Not just us but military, and for the police and our government. It’s great that we can come together and give our faith and be able to do that,” Firefighter, Doug Krueger said.A flag ceremony was also held and children from the All Saints Catholic School graced the crowd with a beautiful song. Fire Chief, Bill Forbush said he was proud to see his community focused on faith, and as the Besser Chorus closed, Alpena and the rest of the nation will have ‘Hope in the Lord.”AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: alpena, Alpena City Hall, National Day of PrayerContinue ReadingPrevious Residential Waste Week RemindersNext City of Alpena Parking Lot Closedlast_img read more