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If you have already retired, the fund guarantees 100% of your pension payments, provided you have reached the scheme's normal pension age.
For the hypermarket magnate, Michel-Edouard Leclerc, chairman of the Hélène and Edouard Leclerc Fund for Culture in Landerneau (Brittany), the endowment fund guarantees independence.
None of this is to say, of course, that hanging on to your fund guarantees a near-term reward.
Take Schroders Guaranteed Return Fund V. The four-year fund guarantees investors a 6% return over the term of the investment.
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Another diplomat said that without the total fund guaranteed, markets would question the credibility of the package.
In one particularly egregious example in Pontiac, Mich., the State of Michigan gave $14 million in tax credits and a state pension fund guaranteed $18 million in bonds to a movie studio that created just 12 permanent jobs.
They have committed an awesome €60 billion of EU-backed bonds, a €440 billion fund guaranteed by euro-zone countries, and potentially up to €250 billion of IMF money.
(This may be hard to believe, but the equivalent headline in The New York Times — "Ford, Castigating City, Asserts He'd Veto Fund Guarantee; Offers Bankruptcy Bill" — did not trip lightly off many tongues).
The government converted into this into the The Enterprise Fund Guarantee.
"Before our professional advisors can recommend to the board whether it is necessary to enter into liquidation, it is necessary for the council to advise on its position with regard to the pension fund guarantee.
Galvanising lending will require targeted bank-funding guarantees.
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