Latest news and analysis of pensions, asset management, regulation and trends in Italy from our award-winning journalists.
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.
Pension fund/entity | Assets (€’000)
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Sources: Pension assets - IPE research; Occupational pension assets as % of GDP - OECD June 2022; Working population, data as of end 2021 - World Bank; Projected old-age dependency ratio 2050 per 100 people - Eurostat 2021; gross average replacement rate - OECD Pensions at a Glance, 2021; Asset Allocation - OECD Pension Funds in Fugures, June 2022
Pension funds Arco, Concreto, Fondo Pensione Byblos and Fon.Te plan to boost investments in Europe
The pension fund for lawyers in Italy tightened the grip on costs as the number of members decreased by 1.3% year-on-year in 2023
Italy’s largest pension scheme is splitting its assets into two macro portfolios
Research shows that 57% of Italian institutional investors directly buy private equity products in line with ESG criteria
The lawyers scheme is creating the two vehicles to streamline investments and administration of its assets
Company | Assets (€m)
As at 31.3.23, *30.12.22, **31.12.22
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A peculiar parallel can be drawn between the Italian second-pillar pension industry and the country’s national rugby union team and its supporters, which every year since 2000 gets excited about the Six Nations Championship.
Pension funds Arco, Concreto, Fondo Pensione Byblos and Fon.Te plan to boost investments in Europe
The pension fund for lawyers in Italy tightened the grip on costs as the number of members decreased by 1.3% year-on-year in 2023
Italy’s largest pension scheme is splitting its assets into two macro portfolios
Research shows that 57% of Italian institutional investors directly buy private equity products in line with ESG criteria
The lawyers scheme is creating the two vehicles to streamline investments and administration of its assets
Current rules and lack of political support can hinder pension funds’ plans to increase private markets commitments
The Bank of Italy has distributed dividends to shareholders, including pension funds, for a total amount of €340m
Structural changes are necessary to reduce the fragmentation of the investments in Italy, says finance ministry’s undersecretary Federico Freni
A working group established within Assofondipensione monitors how effective are the voting policy and the guidelines
Fondo Pegaso and Fondenel are restructuring their sub-fund offerings for their members, introducing new life-cycle options