Italy

ITALY - Italian mutual funds suffer from asymmetries in transparency regulations, lack of diversification of the distribution network and tax disadvantages, a report by the Bank of Italy has found.

ITALY - The selection process for the annuity provider for Italian pension funds has been called into question by Watson Wyatt over allegations of possible conflicts of interest.

ITALY - The mechanical industry pension fund Cometa has appointed Allianz Global Investors to run an additional €406m (US$646m) of assets to the existing absolute return mandate managed by one of its affiliates.

ITALY - Threadneedle has opened an office in Milan, headed by ex-UBS staffer, Alessandro Aspesi.

ITALY - The €1.4bn Fondo Pensione per il Personale della Banca di Roma and the €1.3bn Fondo Pensione Gruppo Unicredito Italiano are considering implementing a shared management and investment structure for their defined contribution sections, according...

ITALY - Consultants have slammed "watered down" pension reforms approved as part of the 2008 Budget, claiming they will do little to resolve the huge financial burden and inequities of the system.

ITALY - BNP Paribas has bought the fund of hedge funds (FoHF ) business from Depo Bank to reinforce its strategic commitment to Italian institutional investors, asset managers and pension funds.

ITALY - Italian pension reform has generated controversy after it was revealed the European Commission could challenge it over the retirement age for women.

ITALY - ENPAM, the medical and dentistry sector pension scheme, has sold €305m in property assets to RREEF Real Estate, Pirelli and C Real Estate.

ITALY - Crédit Agricole Asset Management (CAAM) SGR has reshuffled operations and appointed new staff.