ITALY - Prevedi, the complementary pension fund for employees in the industrial and building companies is looking for up to four asset managers to manage its €24m portfolio.
The Rome-based fund has organised its portfolio as a single line of investment or ‘monocomparto'. This will contain three investment profiles:
A ‘prudent’ profile, which will account for 15% of the fund’s assets, will invested mainly in bonds with a 10% limit on equities. The benchmark will be made up of 5% of the MSCI Europe equity index and 95% of the JPM GVB Emu 1-3 year bond index.
A ‘balanced’ profile, accounting for 60% of the portfolio, will also be invested mainly on bonds, with a limit of 35% in equities. The benchmark will be made up of 25% of the MSCI Europe equity index and 75% of in the PPM GVB Emu 3-5 year bond index.
A ‘dynamic’ profile, representing 25% of the portfolio, will be invested up to 60% in equities with the remainder in bonds.
The benchmark will be made up of 50% of the MSCI Europe equities index and 50% of the JPM GVB Emu all maturities bond index.
Tenders must be in by 21 June.
Prevedi currently has over 24,000 members, just over 3% of its pool of potential members.