The pension fund for doctors and dentists in Italy has grown net assets of 5.5% year-on-year in 2020, reaching a total of €24bn, on the back of positive return on investments worth €435m.
Assets reached €26bn if calculated at market value, the fund said. Operating profits in the 2020 financial year stood at €1.22bn.
Income from contributions stood at €3.23bn and pension pay-outs at €2.38bn, leading to a ratio between income and expenses for pensions of €852m in 2020, below the value of a little over €1bn recorded in 2019.
Inarcassa buys green bonds
The pension fund for self-employed engineers and architects has bought the first green bonds, or Green BTP as it is called, issued by the Italian government.
Total assets at the fund remained above €12bn at current market value at the end of March, thanks to stable financial markets.
Gross operating performance in the first quarter of this year was approximately 1.3%.
In light of a recent drop in volatility, and despite uncertainties regarding the evolution of the pandemic, the fund’s board of directors has decided to eliminate hedges on equity risks, restoring full exposure to equity markets in line with the provisions of its asset allocation strategy.
Enpap sees assets rise by 11.3% in 2020
Assets for the pension scheme for psychologists rose by 11.3% to €1.7bn in 2020, compared with €1.6bn in 2019. Net returns on investments was €39.7m last year, which equals to gross profitability of 3.04% and net profitability of 2.39%.
Operating profits reached €27.9m last year, compared with €37.7m in 2019. Contributions grew by 7.93% year-on-year in 2020 to €154.6m.
The number of members increased by 5.47% at the end of 2020 to 68,037, over 85% of these are psychologists.
Enpav records returns above the benchmark
Italy’s pension fund for vets achieved a 5.08% return on investments last year against a benchmark of 2.75%.
Enpav decided to focus on real estate allocations during the last quarter of 2020 to overcome economic uncertainty and market volatility. In the last part of the 2020, Enpav finalized investments in highly specialized real estate funds.
The scheme has seen net assets increasing by 7.9% year-on-year in 2020 to €770.2m. The fund’s reserves reached €892.1m in 2020 to cover a total of 17.1 years of pension payments.
Profits stood at €56.3m, above the average recorded in the last five years of €54.4m per year.
The number of retirees grew by 458 in 2020, while the number of new members remained substantially stable at 834.
Mixed performances for Byblos’ sub-funds in Q1
The second-pillar scheme for the paper, publishing and media industries has recorded returns of 1.19% in Q1 2021, against a 1.02% benchmark, for its bilanciato sub-fund.
The garantito sub-fund, instead, returned 0.37% against a benchmark of 0.78% in the first quarter of this year.
The performance of its dinamico sub-fund was above its benchmark of 2.71%, at 3.16%, in Q1.