Mandate roundup: £1bn LGPS fund preparing low-carbon switch
Plus: Solidarietà Veneto tenders two mandates worth €328m; Cardano details six fiduciary mandates
Italian funds appoint Neuberger Berman to run joint private equity mandate
Five industry-wide defined contribution schemes have joined forces to invest €216m in private equity
Chart of the Week: Italy’s coalition collapses – bond markets barely blink
Italian prime minister Giuseppe Conte quit his post this week, signalling the end of the controversial coalition government of the Five Star Movement and the Northern League
Italian pension fund Solidarietà Veneto to add infrastructure, real estate
Fund for companies in the Veneto region said it was ready to make the move based on its experience so far in private markets
Italian roundup: Fonchim offers five mandates worth €1.75bn
Utilities sector fund Pegaso seeks consultant; Media industry fund tenders mandates for equity and bond managers
Experts voice concerns over planned Italian second-pillar fund
Aon and SSGA say Italy’s INPS is unsuited to run a proposed new pension fund and should focus on developing existing arrangements
Italian pension schemes hit out at government plan for new fund
The Italian Social Security Institute wants to set up an alternative to existing second-pillar funds, but trade body Assofondipensione warns it could hurt the system
Compenswiss tenders real estate mandate worth €50-100m via IPE Quest
Quartet of tenders sees Swiss and Nordic investors allocate to China A-shares, currency hedging and core real estate as investors continue diversification push
Italy roundup: Industry scheme seeks managers for €1.6bn worth of mandates
Fondo Telemaco seeks private equity and private debt managers to run €105m; Solidarietà Veneto picks Groupama, Eurizon for new mandates
Italian pension fund seeks up to 17 managers to run €4bn
Service sector pension fund re-tenders entire asset base and seeks risk overlay manager
Italian, UK institutional investors back private debt funds
Italian banking sector pension fund and others join European Investment Fund in backing Anthilia BIT III; Merseyside LGPS fund invests £30m with Funding Circle
Asset management roundup: UK, China regulators agree stock connect programme
Plus: DWS to sell €2bn hedge fund business to Alma Capital; MFS signs Italian distribution agreement with Deutsche Bank
Italy roundup: Allianz GI wins €220m mandate from Fondo Telemaco
Tenders announced by a number of other pension funds including Fondo Pensione Nazionale BCC/CRA, Fondo Crédit Agricole, and Fondo Cometa
Mandate roundup: Ircantec awards five mandates worth €2.8bn [updated]
Plus: German church fund awards currency overlay mandate to Metzler; Italian education workers’ scheme shakes up manager line-up; Hampshire hires JP Morgan
Italian telecoms scheme appoints Payden & Rygel to €250m mandate
€1.8bn Fondo Telemaco pension fund began an asset allocation overhaul last summer
Asset manager roundup: Generali backs ex-Pioneer staff’s multi-asset firm
Also: Deutsche Börse buys Axioma in $850m deal; AQR opens Frankfurt office
Italian schemes issue first tender for joint private equity investment
Five funds have clubbed together to form Progetto Iride, and are seeking a manager for a €216m mandate
Italian funds team up to invest in alternatives
Eight industry-wide schemes are pooling resources in an innovative approach to illiquid assets
Generali pensions unit targets cross-border, risk transfer markets
Generali Global Pension will offer de-risking solutions and cross-border plans to multinationals
Analysis: European Commission rejects Italian budget plan
Italy’s government is intent on keeping its budget promises after the European Commission rejected its draft plan, writes Carlo Svaluto Moreolo
Private equity: Visions of the future
Is Project Iris, a joint effort by Italian pension funds to invest in alternatives, a sign of things to come?
IORP II: Race to adopt new rules
Putting the new IORP II rules in place will be a challenge for Italian pension funds in areas like risk management
ESG picks up steam
Italian pension funds have been late starters in embracing ESG principles but they are catching up fast
COVIP: The glass is half full
Despite its several ailments, the health of the Italian pension industry keeps improving
A real alternative to help Italy's economy
A review of think tank Itinerari Previdenziali’s and Borsa Italiana’s recent project on Italian pension funds’ real-economy investments
A Franco-German challenge
France and Germany are the two countries that stand out the most for their comprehensive state pension systems and for underdeveloped second-pillar framework
Market paradoxes demand new ideas
It is the most fundamental premise of investing yet it is increasingly redundant: invest your money rather than hiding it under the mattress
China’s human rights abuses pose challenges
Investors who are serious about ESG should ask themselves about their China strategies
An ageing Europe needs radical policy ideas
The Centre for Social Justice – a UK centre-right think tank – has proposed retirement policy reforms including raising the country’s state pension age to 75 by 2035
Passive investment: Dawn of a new banner theme
This follow-up article on the rise of index investing highlights how pension plans are seeking to promote stewardship among their index managers
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Brussels People: Europe’s conservatives eye Africa
Describing himself as “the most senior elected Brit in Brussels” and speaking ahead of 29 March when he and the UK’s 72 other MEPs were set to relinquish their mandate in the European Parliament, Syed Kamall is keen to speak about matters other than Europe.
Firebrand targets supervision
One of the knottier issues in Brussels at the moment is the future of the European supervisory authorities
Banking on life after politics
At 49, Brian Hayes is young man by political standards. Having started in Irish politics early with his appointment to the Irish Senate in the mid 1990s, Hayes was elected to the Dáil, the lower house, before he was 30, taking a seat for the Fine Gail party.
Brussels People – Lieve Wierinck: Building on Europe’s scientific base
Lieve Wierinck’s main political passion is ensuring the EU takes full practical advantage of Europe’s excellent scientific base
Brussels People: Sven Giegold, MEP
While he derives some satisfaction from advances in green energy and the like, Sven Giegold is unhappy that most global investment can still be classed as environmentally unsustainable.
Letter from Brussels: Brussels seeks to bolster secondary market in non-performing loans
Are non-peforming loans an investor’s dream come true? Or do they represent immeasurable risks?
Letter from Brussels: Focus on pension products and supervision ahead of elections
Tensions are rising in Brussels as the EU institutional mandate approaches its end ahead of the Parliamentary elections in May 2019, and the Commission has already ceased issuing new proposals in the absence of legislative time.
Letter From Brussels: CMU urgency mounts
The race is on to complete the EU’s flagship Capital Markets Union project before the mandates of the Commission and Parliament elapse next year
Letter from Brussels: Campaign to boost pan-EU distribution of UCITS and AIFs
Another step by Brussels to ease financing to business across the EU comes with measures to facilitate the cross-border distribution of investment funds
Letter from Brussels: Who cares about our €3.5trn?
PensionsEurope is concerned about a Brexit ‘no deal’ and is calling for negotiators to pay heed to the €3.54trn sector’s interests
Letter From Brussels: Corporate tax reform in view
Radical upgrades to the EU’s corporate tax base norms have never been so close to fruition
Letter From Brussels: Default guarantee option dominates debate on PEPP
Europe’s asset management industry is lobbying against any mandatory guaranteed default option in the third-pillar PEPP proposal
Letter From Brussels: Brexit focus moves to pensions
As the risk of a no-deal Brexit comes into focus, attention is turning to ways to mitigate the damage across financial services, including asset management and pensions
Letter from Brussels: Easier securitisation on the horizon
The EU’s securitisation package has finally passed through the European Parliament and Council. However, the new rules will not be applied until January 2019
Letter from Brussels: Opposition to mission creep
The EU’s controversial mandate for a radical shake up of financial supervision has received a cool reception from the pensions sector as well as smaller EU members
Letter From Brussels: Court for international investor disputes on the horizon
International investors in the EU have for decades been suffering from woeful dispute settlement proceedings when involved in cases against public authorities
Letter From Brussels: Pension rights for posted workers
Discussions over the payment of social costs for workers from central and eastern European countries posted temporarily to wealthier EU countries are playing a major role in the attempt to update existing directives
Letter from Brussels: Tax threatens PEPP proposal
At first sight, the benefits of the European Commission’s Pan European Personal Pension (PEPP) regulation proposal seem clear. But it did not take long for commentators to point out the considerable hurdles
Letter from Brussels: Reboot for Capital Markets Union
The European Commission’s “further steps to drive forward the Capital Markets Union (CMU)” outline nine new priority legislative actions to solve the EU’s long-term cross-border investment challenge
Letter from Brussels: EU seeks to avert Brexit arbitrage
Strong words on Brexit are flying in political circles. But behind the theatre, concerns about the future of London’s fund management sector are emerging