Fonds de Reserve pour les Retraites, Paris, hired State Street Global Advisors to manage a non-euro overlay for a three-year period, said Hannah Grove, SSgA spokeswoman. State Street Global Advisors will manage and hedge currency risk for the non-euro portion of the 16 billion euro ($19.68 billion) pension fund. Neither Ms. Grove nor reserve fund officials could provide the amount of the overlay. Officials at the pension reserve fund, who wished to remain anonymous, said SSgA is the fund's first overlay manager and referred other questions to the manager.
Fonds de Reserve pour les Retraites, Paris, hired State Street Global...