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
Fondo Pegaso and Fondenel are restructuring their sub-fund offerings for their members, introducing new life-cycle options
Assets under management increased year-on-year to €14.5bn at the end of 2023 from €13.71bn in 2022
The scheme looks to strengthen its internal structure for engagement activities, which will come with additional costs to members
It has started managing assets for the retirement bonus fund separately from 1 January 2024, forecasting an AUM of €2.5bn in 2024, reaching €2.7bn in 2026
The overall commitment, to be made via Alternative Investment Funds (AIFs), is €100m
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.
Fondo Pegaso and Fondenel are restructuring their sub-fund offerings for their members, introducing new life-cycle options
Assets under management increased year-on-year to €14.5bn at the end of 2023 from €13.71bn in 2022
The scheme looks to strengthen its internal structure for engagement activities, which will come with additional costs to members
It has started managing assets for the retirement bonus fund separately from 1 January 2024, forecasting an AUM of €2.5bn in 2024, reaching €2.7bn in 2026
The overall commitment, to be made via Alternative Investment Funds (AIFs), is €100m
Italian scheme targets domestic private debt, private equity and venture capital allocations
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.
Finance ministry and securities market regulator to assess market size of assurance services in transition to new regime
Approximately 14 pension funds with assets under management of around €27bn are taking part in the project
BFF Bank’s indices help pension funds assess the performance of their sub-funds’ investments according to Article 8 of the SFDR