mast image

Impact Investing

IPE special report May 2018

Sections

Italy’s Foncer seeks three managers

ITALY - Foncer, the second pillar supplementary pension fund for workers in Italy’s ceramic tile industry, is looking for three managers for its €70m portfolio.

The Sassuolo-based fund is organised as a ‘monocomparto’, a single balanced portfolio with a strategic allocation of 70% bonds and 30% equities. The equity allocation is split equally between European and non-European equities.

The portfolio is currently managed in equal shares by Monte Paschi di Siena, IMI San Paolo and RAS. The closing date for applications for the new mandates is 14 April.

Foncer reported a record investment performance last year, with a return of 9.6%. This compares with the 2.62% revaluation of Tfr, the severance fund.

The fund has seen assets under management increase by a total of 31.7% since it began investing in 2001, representing an average increase of 6.85% over the past five years.

The fund’s assets were around €70m at the end of last year, up €17m on 2004. Contributions will add a further €20m this year.

Foncer has attracted 8,785 members out of a potential pool of 30,000 since it began enrolling in 2002. The fund is relatively immature, with two thirds of members aged under 45.

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.

  • QN-2435

    Asset class: CLOs.
    Asset region: Global.
    Size: USD 50m.
    Closing date: 2018-05-22.

  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

Begin Your Search Here