Italy: Pensions and Investment News and Analysis
Latest news and analysis of pensions, asset management, regulation and trends in Italy from our award-winning journalists.
Fondaereo plans to turn into a cross-border European scheme
The pension scheme has also reorganised its investment sub-funds, reducing them from four to three
Italian pension funds see number of members increase in Q3
Industry-wide pension funds added 188,000 members so far this year, compared with the end of 2022, a 4.9% increase, for a total of almost 4 million members
Monte dei Paschi scheme starts manager selection for private markets investment
The pension fund will invest €135m in infrastructure, real estate and private debt AIFs
Country report – Pensions in Italy (July/August 2023)
Italian second-pillar occupational pension funds continue on their path to diversification. Owing to the higher yields on offer in traditional fixed income markets, allocations to private markets may slow down temporarily, but funds have made long-term strategic commitments. A variety of industry initiatives is facilitating investment in private equity, private debt and infrastructure. Meanwhile, some pension funds are consolidating their private markets portfolios.
Fondo Pegaso adopts ESG index in latest manager selection tenders
The index takes into account key aspects including asset managers’ governance, corporate culture, and their commitment towards sustainability goals
Italian government faces backlash on targeted pension changes
The government has this week introduced the budget law to the Senate to start the approval process
Inarcassa’s new strategy sees cuts to equity in favour of bonds, infrastructure
Assets under management for first-pillar pension schemes, according to pension regulator Covip
Fondo Pegaso issues tenders for bonds, multi-asset mandates
The scheme plans to select three managers for an active bond aggregate strategy and one manager for two semi-active multi-asset type briefs
Energy company set to pay ‘largest ever step-up’ on sustainability-linked bonds
Think tank predicts that Italy’s Enel will miss its targets because of government policy
Inarcassa considers higher exposure to illiquids, infrastructure
The next strategic asset allocation could lead to wiping out liquid alternative investments from the scheme’s portfolio
Italy’s managers union starts legal action against INPS and government
CIDA has filed seven lawsuits for a law blocking full adjustment of pensions to inflation
Italian pension fund quartet boosts private equity investments
Asset manager Neuberger Berman will invest in buyout and growth strategies, and mainly in companies operating in Italy
Italian trade unions push government to bolster second pillar system
CGIL, UIL, and CISL believe it is unacceptable to finance a private association to promote supplementary pensions
Italy: Government eyes pension reform despite lack of resources
Giorgia Meloni’s right-wing government wants to lower retirement age and secure retirement income for young workers, but it faces an uphill battle against inflation
Historic low birth rate could make Italy’s pension reform efforts ineffective
The government intends to reform its tax system to cut the burden on companies employing women with children and large families
Unicredit pension fund closes down alternatives sub-funds
The fund for alternative investments Effepilux Sif-Sicav fund will become a real estate Alternative Investment Fund (AIF)
Italian pension funds recover with AUM reaching €214bn in H1
Pension schemes recorded overall positive returns in the first six months of 2023, but results were up particularly for those with higher exposure to equity investment
Italy roundup: Generali Investments buys Cathay Life business
Plus: Women are still underrepresented in first pillar schemes, says Adepp
Lessons learned from Berlusconi’s pension reforms
To some, the death of Silvio Berlusconi on 12 June this year, is the end of an era for Italian politics. Berlusconi was the longest-serving prime minister in the history of the republic and a highly controversial figure, at home and abroad. He can be described as the first modern European populist leader.
Italian government readies new investment rules for first pillar pension system
Pension schemes have been waiting for an upgrade to their investment rules since 2011
Italian pension funds lean towards domestic investments, says COVIP
Many pension funds are also expanding their investment strategies in private equity and private debt, according to the pensions regulator
Italian government puts forward law to create €1bn SWF
The funds will amount to €700m this year and a further €300m in 2024
Italy roundup: Previndai ups exposure to corporate, government bonds
Plus: Eurofer pushes on with direct investments
Italian government plans sovereign wealth fund set up
The draft bill, called ‘Made In Italy’, will be tabled by the minister of enterprise and Made in Italy Adolfo Urso in an upcoming government meeting
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