Italy: Pensions and Investment News and Analysis
A main preoccupation of successive governments has been tweaks to the state pension age in particular the retirement age: political aspirations from both left and rights continually hit the buffers of fiscal reality. The current early retirement system will be phased out by the current government, unless it finds a way to replace it. Italy’s workplace occupational pension system in fact works quite well, with a moderate amount of pension assets relative to the size of the country’s economy, but including an established auto-enrolment component that has been attracting the attention of EU policymakers of late.
Pension Funds in Italy - Country Report
Italy Country Report 2024: How local pensions could support the economy
The Italian pension industry and policymakers are discussing ways to channel more pension investment towards the country’s business sector
TOP ITALIAN PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Fondazione ENPAM | 26,221,000
- Cassa Nazionale di Prev. e Assist. Forense | 17,855,000
- Previndai-Fondo Pensione | 14,505,681
- Fondo Pensione COMETA | 13,894,503
- Inarcassa | 13,433,000
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Fondoposte picks asset managers to oversee €1.4bn
The pension fund’s assets will be split between four investment compartments, aligning portfolio strategies more closely with members’ risk profiles and time horizons
Fondo Pensione Pegaso appoints four managers to oversee €600m mandate
The fund has awarded mandates to PIMCO, AXA Investment Managers, Generali Investments, and Amundi
Fondo Gomma Plastica awards €712m to Anima in multi-asset reshuffle
The fund reassigned assets previously managed under multi-asset mandates with AXA IM and Groupama, consolidating them with Anima
Fonchim picks managers for €2.71bn in mandates
Most asset managers accepting mandate renewals agreed to slight fee reductions, says pension fund
Italian fund overhauls strategy, awards €1.6bn in mandates
Latest round of manager appointments follows a broader decision by BCC CRA to diversify portfolios via new ‘specialist and balanced world mandates’
TOP MANAGERS: ITALIAN INSTITUTIONAL ASSETS
Company | Assets (€m)
- Generali Investments | 204,903*
- Eurizon Asset Management | 180,054
- Anima Holding | 136,113
- Amundi | 64,824
- AXA Investment Managers | 35,666**
- Allianz Global Investors | 30,498***
- BlackRock | 21,920
- Morgan Stanley Investment Management | 16,747***
- Fondaco | 12,593***
- BNP Paribas Asset Management | 10,717
As at 31.3.24, *29.04.24, **29.12.23, ***31/12/23
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IPE BEST PENSION FUND IN ITALY AWARD WINNERS
- 2023 - Cassa Nazionale del Notariato | Fondo Pensioni Del Personale Gruppo BNL/BNP Paribas Italia
- 2022 - Fondo Pensione Nazionale BCC/CRA
- 2021 - Fondo Pensione Nazionale BCC/CRA | PrevAer
- 2020 - Fondoposte
- 2019 - Fondo Pensione Laborfonds
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Italy needs a serious debate about pensions
Italian policymakers are bent on indulging the relatively small but influential minority of Italians that is nearing retirement, but lament that the statutory retirement age of 67 is too high. The reform efforts of past years have been towards reducing the retirement age or increasing flexibility in retirement. The resources employed towards supporting second-pillar pensions have been next to none.
Fondoposte picks asset managers to oversee €1.4bn
The pension fund’s assets will be split between four investment compartments, aligning portfolio strategies more closely with members’ risk profiles and time horizons
Fondo Pensione Pegaso appoints four managers to oversee €600m mandate
The fund has awarded mandates to PIMCO, AXA Investment Managers, Generali Investments, and Amundi
Fondo Gomma Plastica awards €712m to Anima in multi-asset reshuffle
The fund reassigned assets previously managed under multi-asset mandates with AXA IM and Groupama, consolidating them with Anima
Fonchim picks managers for €2.71bn in mandates
Most asset managers accepting mandate renewals agreed to slight fee reductions, says pension fund
Italian fund overhauls strategy, awards €1.6bn in mandates
Latest round of manager appointments follows a broader decision by BCC CRA to diversify portfolios via new ‘specialist and balanced world mandates’
Fondenergia seeks manager as it boosts equities investment
The move is part of a broader strategy to offer members a life cycle approach
Previp strips Amundi of sub-fund mandate
€3.4bn Italian multi-employer defined contribution pension fund reallocates assets to mandate co-incumbent
Amundi, Generali, Allianz among managers to join Italy’s national strategic fund
Pension funds Enpam, Arco and Prevedi are yet to decide whether to participate in the Fondo Nazionale Strategico Indiretto
Italian pension funds in focus as strategic national fund seeks capital boost
The fund aims to raise between €1bn and €1.5bn in capital before engaging with international and large-scale investors
Italy’s largest pension funds outperform in 2024 amid governance overhauls
Enpam surpasses targets, while Cassa Forense posts double-digit returns and Inarcassa boosts private market exposure
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