More of Italy’s pension funds will follow the footsteps of Foncer, Fondo Gamma Plastica, Fopen, Fondo Pensione Complementare Pegaso and Previmoda by increasing investments in alternative funds, it has been reported by think tank Itinerari Previdenziali. The above-named pension funds have recently committed €168m to invest in infrastructure through a project called Vesta.
According to the think tank’s research, 73% of the fondi negoziali intend to increase investments in alternative funds from 58% currently investing in AIFs, while 15% stated the intention to allocate capital to real estate AIFs, from the current 7.7%.
The pension funds have started a tender to pick an Alternative Investment Fund Manager (AIFM) for the selection of AIFs to invest in infrastructure, I&PE reported today.
Four industry-wide pension funds had previously picked StepStone Group to invest in private debt through an AIF strategy, and five pension funds launched the consortium Iride to invest in private equity.
“The survey’s report disclosed that 58% of pension funds adopt a social responsible investment (SRI) policy, up 5 percentage points year-on-year in 2022, while 82% of the pension funds without a SRI policy today have declared the intention to implement one in the near future,” stated the I&PE
The survey also showed that 18% of the respondents are not planning to adopt a sustainable investment policy and that 60% of pension funds adopt an SRI policy for more than five years with 66% of them applying a policy to a percentage of assets between 75% and 100%, up from 45% last year.
In the meantime, alternative fund managers might want to brush up on their Italian…