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
How we run our money: Laborfonds
Ivonne Forno (pictured), the CEO of Laborfonds, the Trentino-Alto Adige/Südtirol regional pension fund, talks to Carlo Svaluto Moreolo shortly after the fund’s 20th birthday
Strategically Speaking: Tages Group
Saying that Tages is an investor in alternative asset management businesses does not really do justice to its eclectic nature
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
Italian mandate roundup: PreviAmbiente, Previbank, Fondenergia
Trio of schemes seek fund managers for ESG, multi-asset and DC portfolios
Generali Investments splits to create LDI specialist arm
LDI arm separates from ‘growth engine’, which will consist of ‘unconstrained and distinctive’ strategies
Cancelling 2011 reform ‘could cost Italy €8bn’: reports
Last week’s budget confirmed Italian government’s plan to roll back the Fornero reforms
Asset management roundup: Generali backs ‘disruptive’ startup with $4bn
Also: Willis Towers Watson’s AMX crosses $6bn threshold with insurance client
Italian railways scheme launches search for private debt managers
Eurofer to invest €25m as Italian schemes’ appetite for alternatives grows
€11bn Italian fund launches alternative investment tenders
Fondo Pensione Previndai is seeking up to nine private equity, infrastructure and direct lending managers
Italy's social security chair warns on pension impact of border closure
Interior minister Salvini accuses Boeri of being political
Shareholders for Change gives voice to Europe’s small investors
New association of small institutional investors wants to tackle niche ESG topics
Italian doctors' scheme gains 4.1% as it boosts domestic assets
“Portafoglio strategico Italia” takes stake in domestic bank alongside two energy firms
Italian pension funds cut bonds in diversification push
Occupational and personal fund investors have reduced holdings in government debt
Quitaly? How Italy’s new leaders could redefine European politics
As Italy’s government gets to work, the whole of Europe faces a period of potentially momentous change, writes Carlo Svaluto Moreolo
Italy's public pensions: Unfinished business?
Italy’s new government plans changes to first-pillar pensions that could have a significant impact on the country’s economy
Second Pillar: A sector comes of age
Without further measures to increase coverage, Italy’s growing second-pillar pensions will continue to represent only a relatively small share of the overall economy
Carlo Cottarelli: “There’s no spending your way out of debt”
Carlo Cottarelli, Italy’s caretaker prime minister during the recent political crisis, explains why the new Italian government should avoid overspending on pensions and other key budget items
Asset Allocation: Tactics come into play
Italian pension funds are diversifying their asset allocation in response to low yields
Fondo Pensione Byblos: Byblos writes a new chapter
A sector fund making bold moves in alternative investment funds
Study highlights imbalance between dividends and pension payments
LCP found that FTSE 100 companies paid £90bn to shareholders and just £13bn to pension funds in 2018
Sustainability accounting standards investor group expands
NBIM, Brunel Pension Partnership and Canadian pension funds among 15 new members of advisory group
Life expectancy will continue to fall in 2019: KPMG
Longevity swap contracts could be ‘out of the money’ given major shifts in data on life expectancy, warns accountancy group
Connecting climate dots
The transition to a low-carbon economy should lead to significant economic opportunity
Cultivating judgement
One of the big challenges we face, both in the financial world and in everyday life, is how to overcome our biases
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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