ITALY - The Italian pension fund regulator, the Commissione di Vigilanza sui Fondi Pensione (Covip), is set to give its approval to the operation of two new pension funds.
Sabrina Ruggiero, manager of the Alitalia pension fund, said that the two new Alitalia pension funds, Fondav and Mercurio, should receive operational approval from Covip within the next two months.
Fondav will cover Alitalia’s flight attendants, whilst Mercurio - a non-compulsory scheme - will be comprised of the airline’s ground staff. Ruggiero said that pending Covip’s approval, the funds will start looking at investment managers and could make their first appointments in 2003.
Additionally, Ruggiero revealed that Previvolo, the pilots’ pension fund, is looking to appoint managers for balanced mandates by the end of February.
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