Sections

FondoPoste tenders for fund admin, deposit bank

ITALY – FondoPoste, the new pension fund for Italian postal workers, has put out to tender mandates for a deposit bank and a fund administrator.

FondoPoste was authorised in July and will offer pensions to an estimated 160,000 non-executive postal workers for the Italian postal system and its subsidiaries, Poste Vita, Sim Poste, SDA express.

The tenders for a deposit bank and a fund administrator must be received by 16:00 hours on October 10. The deposit bank must have no less than five billion euros in assets under custody/administration.

A spokesman for the fund said that the scheme was expected to be officially running by November and that mandates for fund managers would follow.

Initially, FondoPoste will be a monocomparto plan, where there will be a single investment option for all employees. It is foreseen that, after three years, it will then become a multicomparto plan, where members will have more than one choice regarding the investments of their money.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • DS-2487

    Closing date: 2018-11-22.

  • QN-2489

    Asset class: Alternatives.
    Asset region: Global.
    Size: $100m.
    Closing date: 2018-11-30.

  • QN-2491

    Asset class: Alternatives.
    Asset region: Global.
    Size: $20m.
    Closing date: 2018-11-30.

Begin Your Search Here