All articles by Luigi Serenelli – Page 6
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Country ReportItalian pension funds consolidation grinds to a halt
Mergers between pension funds have been too few to have an impact on the Italian pension industry
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Country ReportCasse di previdenza put under the spotlight
First-pillar pension funds have faced parliamentary scrutiny over their investments, returns and relationships with advisers
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Opinion PiecesGermany’s pension buyout market evolves
The pension buyout market in Germany is gradually evolving. Transactions to transfer companies’ liabilities to pension corporations (Rentnergesellschaften), the vehicle used for buyout deals, have occurred regularly in the first half of this year.
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Country ReportItaly country report 2025: Pension funds step out of their comfort zone, diversify portfolios
While maintaining a domestic bias, Italian institutions are venturing into new asset classes to further diversify their portfolios
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NewsVZB admits financial distress after high-risk investments
The pension fund for dentists in Germany said that ‘a significant share of investments are acutely at risk’
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NewsGerman court orders VBL to disclose investment holdings
The disclosure must include details such as asset class, issuer, country of origin and market value
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AnalysisIPE DACH Briefing: German church employees fund cuts European equity
Allocates instead to Chinese equities with mandate awarded to Fullgoal Asset Management
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NewsGerman bank reshapes asset management division under new head
As part of the reorganisation, LBBW has appointed Karen Armenakyan as head of asset management
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NewsFondenergia appoints Azimut for global equity as new strategy takes effect
The new strategy also involves an increase in the equity allocation of the €1bn ‘Dinamico’ sub-fund by around seven percentage points
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NewsWTW Pensionsfonds to manage €500m in Traton pension assets
WTW takes over €500m in pension assets of Traton, the commercial vehicle manufacturer and subsidiary of Volkswagen Group
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NewsVZB halts loan to EV Digital Invest amid insolvency and legal dispute
The €2.2bn pension fund for German dentists has declined to provide further funding to EV Digital Invest to protect scheme assets from ‘untenable risks’
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NewsFondo Fon.Te sharpens private markets focus with new multi-asset mandate
Under the revised strategy, the €3bn ‘Sviluppo’ sub-fund will double its allocation to private markets from 5% to 10%
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NewsSwiss pension funds reinforce FX hedging amid rising volatility
With liabilities denominated in Swiss francs, pension funds aim to limit investment volatility by reducing exposure to currency fluctuations
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NewsGermany’s KZVK appoints Fullgoal to manage Chinese equities mandate
The pension fund allocates 8.52% of its assets to Asia, but targets an allocation of 10-25%
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NewsGerman firms ramp up pension buyout activity
WTW and Vedra see robust interest from corporates aiming to reduce financial risk and remove pension obligations from their books
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NewsFondo Byblos cuts equity exposure, eyes private markets
Managers appointed include AXA IM, Groupama, AllianzGI, Payden & Rygel and Eurizon Capital
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NewsKZVK winds down equity risk derivatives as part of portfolio overhaul
The €36bn German occupational pension provider for employees of the Catholic Church plans to reconfigure its equity risk management framework this year
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NewsMetzler targets SMEs with new pensions vehicle
Firm launches Mittelstands Pensionsfonds targeting SMEs, covering a wide range of industries
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NewsIntesa Sanpaolo pension fund awards €700m in tail-risk mandates
The tail-risk mandates are part of the scheme’s broader strategy to weather ‘deeply uncertain’ macroeconomic environment in 2025
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NewsFondo Espero appoints Schroders, Amundi for ‘Crescita’ sub-fund
The €1.5bn Italian pension fund for school employees has also selected Eurizon Capital for a tail risk hedge mandate
