EUROPE - The Italian Asset Management Association (Assogestioni) and the Italian Industry-wide Occupational Pension Fund Association (Assofondipensione) are set to join the European Federation for Retirement Provision (EFRP).
Assogestioni and Assofondipensione will become full members as of 1 January 2006, following a decision taken at the EFRP General Assembly of 31 October 2005 in Zurich.
EFRP chairman Jaap Maassen (pictured) said these new affiliations would further reflect the development of occupational pension savings in Italy.
“It is another step strengthening the EFRP as the EU level representative organisation for occupational and supplementary pension providers,” he added.
Individual pension schemes, collective investment funds, and the managers of industry-wide pension funds are numbered among the 218 members of Assogestioni.
Members had approximately e13bn assets under management at year-end 2004 and in total manage e940bn in mutual funds and managed mandates.
Assofondipensione represents 21 industry-wide occupational pension funds, created on the initiative of social partners and managed under paritarian governance. At end 2004, members managed approximately e5.3bn.
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