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Crédit Agricole loses out at French reserve fund

The Fonds de Réserve pour les Retraites, the €32bn ($43bn) French state pension fund, has hired new managers for three equities mandates and parted company with Crédit Agricole Asset Management in the process.

Crédit Agricole was selected for the €500m eurozone large-cap brief by FRR in July 2004. Those contracts have now run their course and not been renewed.

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