The €34.7 billion Fonds de Reserve pour les Retraites (FRR), Paris, has re-appointed BNP Paribas Asset Management to manage a notional €1 billion in passive non-agricultural commodities, Pensions & Investments reports. BNP Paribas Asset Management is the largest partner within BNP Paribas Investment Partners with investment teams spread across the globe.
Separately, the pension fund engaged asset managers BlackRock, CCR Asset Management and State Street Global Advisors to handle passive global bonds as part of its LDI program. The size of the mandate could not be ascertained.
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