Paris based Eléctricité de France (EDF) – the French electricity provider - has selected Pimco Global Advisers and AGF Asset Management – both of which belong to the Allianz PIMCO Asset Management group, to run a significant global bond mandate worth tens of millions of euros.

The brief, which consists of assets being put aside for the dismantling of a number of France’s nuclear power stations in thirty years time, will be benchmarked against the Salomon Smith Barney world global bond index - ex euro.

Fisher, Francis Trees and Watts with BNP and Credit Suisse Asset Management in London will also be handed bond portfolios of similar amounts .
Jean Eyraud, chef de service at EDF’s treasury in Paris, comments: “We wanted to have long term bond mandates and sought managers with competence in relatively sizeable fixed income and eurozone bond briefs.”
EDF was advised by Frank Russell in Paris on the tender process.

France’s nuclear power stations which were built with a limited shelf-life and are likely to be pulled down by the year 2030.



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