ITALY – Prevedi, the new voluntary pension fund for employees in the industrial and building trades, has launched a beauty contest for a custodian and administration services provider.

Invitations must be received by February 18.

The new fund received authorisation last year, and this year will seek to sign up 35,000 employees in the industry.

Says Giuseppe Acquafredda, spokesman for the new fund: “We estimate that the total number of employees that will eventually be exposed to the fund will be 600,000.”

As soon as the depositing bank and administration services provider are in place, then Prevedi will think about tendering for fund managers.

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