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Banco di Napoli fund taps Templeton for US stocks

ITALY – Banco di Napoli’s 1.2 billion-euro employees’ pension fund has appointed Franklin Templeton to manage the US equity portion of its portfolio.

The decision to appoint Franklin Templeton was based on its track record in bottom-up investment approach and risk/return results obtained by the US equity team based in the US.

Milan-based Franklin Templeton Italia Sgr is headed by Sergio Albarelli. Fabrizio Meo heads up the team dedicated to Italian institutional clients, and will be responsible for the Banco di Napoli pension fund mandate.

Also in Italy, PreviAmbiente, the pension fund for workers in the environmental hygiene industry, has put out to tender a 10 million-euro equity mandate. Sixty percent of the stocks selected will be benchmarked against an ethical index.

The closing date for applications is July 10. Further information on how to apply can be found on the website www.previambiente.it/selezione_gestore.htm

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