FRR returns down

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FRANCE - Government endowments helped the Fonds de Réserve pour les Retraites' (FRR) assets rise by €3.3bn (US$4.8bn), despite its investments only producing a 4.8% return net of fees.

Some €1.7bn from the French government buffered the fund which had posted a 5.7% year to date return at the end of September 2007. A statement from FRR said: "The market environment - in particu...

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