ITALY – The new pension scheme for workers in the rubber, plastic and electric cable industry in Italy, Fondogommaplastica, has put out to tender two mandates for its 20 to 30 million euro fund.
The entire fund will be split equally into two separate mandates, requiring three managers. One mandate will be dedicated entirely to fixed income and requires one manager. The other will be a balanced/equity mandate requiring two managers.
At the end of 2002 the fund was valued at 20 million euros, although the scheme estimates a capital value of 30 million euros by the end of June 2003.
Applications must be received by midday on January 31.
Questionnaires can be found on the pension scheme’s website: www.fondogommaplastica.it
The supplementary fund was established in 1999, and now has around 25,000 members.