ITALY - BNL/BNP Paribas Employees' Pension Fund has hired State Street Global Advisors to run an €82m ($113m) custom fixed income mandate while the Cariplo Pension Fund renewed a European equity mandate worth $71m.
SSgA will run 50% of the portfolio against the Barclays Capital Inflation Linked Global Bond Euro index and the other half against the JPM Global GBI EMU IG.
"We are honoured that BNL/BNP Paribas Employees' Pension Fund, one of the most important pension funds in Italy, has chosen SSgA to manage its fixed income investments as a result of a thorough selection process," said Filippo Battistini, head of institutional business at SSgA in Italy. "The fixed-income environment is challenging and rapidly evolving. We will leverage our expertise in managing some of largest pension funds globally to meet BNL/BNP Paribas Employees' Pension Fund's specific requirements."
Meanwhile, the Cariplo fund renewed its European quantitative active equity portfolio run against the MSCI EMU benchmark.
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