ITALY - Fonchim, the first contractual private pension fund to be launched in Italy, is to transform into a multi-compartment vehicle next year with a choice of investment strategies for its members, in a move that is likely to be followed by other funds as the market begins to develop.
The annual general meeting of the fund set up for workers in chemicals industries in 1998 voted to introduce the new system from January 2003. It will be the first time that one of the contractual ...
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