English section, by Gilles Pouzin

Deontofi.com mostly publishes articles in French but we would be very happy to share our information with international readers. Some stories written in English are gathered here and others can be provided on demand, from existing French material, or produced on purpose for specific inquiries, upon request.

Dans les coulisses de la City de Londres, un cartel de banques faussait les indices des prix de l'argent, Euribor et Libor. (photo © GPouzin)

Dans les coulisses de la City de Londres, un cartel de banques faussait les indices des prix de l’argent, Euribor et Libor. (photo © GPouzin)

  • English stories by Gilles Pouzin for Investment and Pensions Europe IPE.com :

Emmanuel_MacronIPEmagPhotoByGillesPouzinSME Lending: Finance funds for business May 2016 (Magazine) By Gilles Pouzin. • The government is supporting a new fund designed to funnel institutional assets to small and medium-sized enterprises. • Until recently lending in France was restricted to banks and credit institutions. • Institutional investors are increasingly investing in loans.

France’s first-pillar pensions: Embracing the last resort May 2016 (Magazine) By Gilles Pouzin. • The recent Agirc-Arrco agreement was designed to overhaul the second-pillar pensions scheme. • From 2019, there will be a 10% cut in pension payouts during the first three years of retirement, even for those with a complete record of contributions (43 years). • The Agirc scheme for executives will merge with the employees’ Arrco scheme in a new unified regime by 2019.

« Les régimes Agirc-Arrco ont accumulé 60 milliards de réserves en dix ans quand les retraites de base accumulaient 8 milliards de déficits financés à crédit » rappelle Didier Migaud, président de la Cour des comptes, en recommandant de nouvelles pistes pour garantir l’avenir des retraites. (photo © GPouzin)

« Agirc-Arrco had gathered €60 Bn reserves within ten years » recalled Didier Migaud, president of the Cour des comptes, as he recommanded new reforms to restore second pillar pensions balance. (photo © GPouzin)

France’s Agirc-Arrco: Reform of last resort May 2015 (Magazine) By Gilles Pouzin. French public finance magistrates have stressed the urgency of reforms to France’s main private sector supplementary regime, Agirc-Arrco…

Agirc-Arrco: Opening closed shops May 2015 (Magazine) By Gilles Pouzin. Restructuring the supplementary pension schemes will see greater centralised management and the increased use of passive strategies.

France’s Novi fund targets liquidity May 2015 (Magazine) By Gilles Pouzin. This article outlines the concept behind the Novi fund, the latest institutional investment vehicle offering equity and loans to smaller French enterprises. “French industry has a future and this future presupposes investments,” President François Hollande said…

Agirc-Arrco reviews strategy ahead of expected fund manager reshuffle 14 October 2014 By Gilles Pouzin. French second-pillar pension fund Agirc-Arrco has reviewed its investment strategy ahead of a likely asset-management reshuffle, as economic and demographic constrains weight on retirement. Agirc-Arrco’s financial committee is set to review the findings…

France: Larger mandates on the cards May 2014 (Magazine) Gilles Pouzin assesses the latest Agirc-Arcco reforms and the ramifications for asset management. One more predicament has hit Agirc-Arrco, the French compulsory second pillar pay-as-you-go (PAYG) retirement…

France: SME cash lifeline gains investors’ attention May 2014 (Magazine)

CDC director Thierry Giami has launched the SME loans' NOVO funds at Caisse des Dépôts, here at l'Hôtel de Pomereu, 67 rue de Lille (photo © GPouzin).

CDC director Thierry Giami has launched the SME loans’ NOVO funds at Caisse des Dépôts, here at l’Hôtel de Pomereu, 67 rue de Lille (photo © GPouzin).

Cash-starved French SMEs are being offered competitive financing through an initiative led by Caisse des Dépôts that also provides insurers and pension funds with relatively safe income assets..

Agirc-Arrco awards Russell transition management mandate Fri, 10 Jan 2014 By Gilles Pouzin

Paris Court verdict on Cref criminal trial set for April Tue, 7 Jan 2014 By Gilles Pouzin

National Assembly approves reform of French retirement system Fri, 20 Dec 2013 By Gilles Pouzin

Second-pillar reserves to dry up at France’s Agirc despite reforms Mon, 16 Dec 2013 By Gilles Pouzin

Pension funds worldwide queue up to sue Vivendi in Paris Thu, 5 Dec 2013 By Gilles Pouzin

France: Déjà vu for Agirc-Arrco May 2013 (Magazine)The March 2013 agreement on Agirc-Arrco retirement reform is a relief for asset managers, and could staunch years of withdrawals by 2014, says Alain Lémoine (alias Gilles Pouzin). The March 2013 agreement on Agirc-Arrco retirement reform…

Agirc-Arrco's board member Patrick Poizat, from French Christian Workers' Union CFT, managing retirement reforms (photo © GPouzin).

Agirc-Arrco’s board member Patrick Poizat, from French Christian Workers’ Union CFTC managing retirement reforms (photo © GPouzin).

France: Agirc-Arrco reserves will be saved May 2013 (Magazine) Patrick Poizat, board member of GIE Agirc-Arrco and of Agirc federation, tells Alain Lémoine of his optimism about the future of the fund following reforms in March Patrick Poizat, board member of GIE…

France: Hope beyond the figures May 2012 (Magazine) Alain Lemoine assesses some important implications for pensions and institutional investment in an election campaign notable otherwise for its silence on retirement issues Alain Lemoine assesses some important…

France: The impact of a shorter horizon May 2011 (Magazine) Alain Lemoine makes a gloomy assessment of the wider impact on French pensions reform and funding of the decision to drawdown on FRR Alain Lemoine makes a gloomy assessment of the wider impact on French…

France: Reforms on the starting line May 2010 (Magazine) Reform to the French social system is less politically unacceptable than it was a few years ago, writes Alain Lemoine Reform to the French social system is less politically unacceptable than it was a few years…

Missed opportunity March 2009 (Magazine) Employee savings plans could have been the next big thing in French financial services but they have failed to take off. Alain Lemoine examines why Employee savings plans could have been the next big thing in French financial…

Coping with stress March 2009 (Magazine) Life insurers are France’s largest institutional investors. Alain Lemoine assesses how they are responding to the current crisis Life insurers are France’s largest institutional investors. Alain Lemoine assesses how they are…

French big four set up joint DC admin platform March 2006 (Magazine)Four of France’s biggest asset managers – AXA France, BNP Paribas, HSBC France and Société Générale – have set up a joint venture to administer around four million employee defined contribution…

Four firms in French DC venture February 2006 (Online) FRANCE – Four of France’s biggest asset managers – AXA France, BNP Paribas, HSBC France and Société Générale – have established a joint venture to administer roughly four million employee defined…

Strauss-Kahn in pensions drive March 1999 (Magazine)France will have an ‘appropriate’ retirement funding system by the turn of the century, which will contribute to the ‘mobilisation’ of national saving and the defence of French business, Domique Strauss-Kahn,…

Euroland won’t be built in a day February 1999 (Magazine) The whole Euroland bond market is worth an estimated E6trn (the US is $11trn) and France is only 24% of that pool, but this doesn’t mean that French institutions are rushing to re-allocate 76% of their bond…

Promise in the east December 1998 (Magazine) Charles Brady, chairman of Amvescap, talks to Gilles Pouzin What is your strategy in Europe? We have $260bn under management, of which $50bn is managed for international clients, essentially in Europe. It’s still a minority…

Managers steady as volatility hits FRANCE November 1998 (Magazine) The summer market storms are becoming more and more seasonal, but nevertheless, they still take everybody by surprise. Even the money managers, who have many options to hedge their investments…

Alternative aux fonds de pension, le Complément de retraite des enseignants et fonctionnaires (Cref) n'a pas été plus honnête (photo © GPouzin)

« Pension funds, trap to idiots », reads a poster in a French demonstration against Pay-As-You-Go retirement reform, in Paris (photo © GPouzin).

French talks to resume September 1997 (Magazine) After being elected on the promise of scrapping right-wing liberal reforms, the French socialists are softly shifting to a more pragmatic stance. The privatisation process is the first illustration of this, but the pension…

Thomas law to die – long live reform July 1997 (Magazine) That the tangled birth of French pension funds could be heading for a miscarriage is the most common fear amongst market watchers after the socialists won the French general election. The Thomas law – named after…

The tangled birth of the French pension fund system April 1997 (Magazine) The new law has passed most legal hurdles, but is the demand really there? Gilles Pouzin reports. Social unrest has not stopped the introduction of France’s new private retirement system, but the…

Note to foreign editors : interested in these stories, please contact the author if you want an original script of these hearings in Paris court, as Mr Bronfman spoke in English, and the French articles are based on the author’s translation of his English written notes. Translating from French back to English entails a risk of confusion with the original words.

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