French deposite guarantee scheme awards bond mandates

The Fonds de Garantie des Dépôts et de Résolution (FGDR), a French deposite guarantee scheme, has awarded bond mandates to four asset managers.

AXA IM, Candriam, Edmond de Rothschild AM and La Française AM will manage a €1bn portfolio.

The FGDR said it will give more flexibility to managers awarded in regard to the current environment in the fixed income space.

Total assets available to the French deposite guarantee scheme reach around €3.4bn.

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