01

Table of contents

p. 02 Message from the Chairman of the Supervisory Board and Chairman of the Management Board

p. 04 Key figures p. 05 The FRR in its economic environment p. 15 The FRR s performance p. 31 Socially responsible investment at the heart

of the FRR s investment management

p. 41 Risk management and control p. 46 Organisation and costs p. 47 Governance p. 48 Management structure chart

Financial information

p. 51 Financial and accounting summary p. 52 Balance sheet at 31 December 2016 p. 54 Income statement at 31 December 2016 p. 55 Notes to the annual financial statements at 31 December 2016 p. 71 Statutory auditor s report at 31 December 2016 p. 72 Mapping of the FRR s portfolio at 31 December 2016 p. 75 The FRR s investment management companies in 2016 p. 77 The FRR s investment management companies at 31 March 2017 p. 79 Requests for proposals in progress at 31 March 2017