Fondo Fon.Te, the pension fund for Italy’s commerce, tourism and services sector workers, has invested a further €160m in private markets, marking an “important strategic driver” for asset management, according to the scheme’s 2024 financial statement.This year, Fon.Te allocated €30m in venture capital in Italy in sectors supporting technological innovation, medical research, ecological transition and agrifood-tech, it said.Fon.Te also approved investments worth €130m to back Alternative Investment Funds (AIFs) internationally, it added. The latest round of private market investments confirms the scheme’s commitment to a strategy geared towards supporting tech start-ups.This latest move comes after the scheme commited €560m to private markets, including 70% of capital allocated to support Italy’s domestic economy. Assets under management exceeded €6bn this year, a 13% increase on the previous year, driven by contributions of more than €700m, it added in the statement.The scheme’s sub-fund Conservativo, that invests mostly in money market funds and bonds recorded 4.8% returns in 2024. Its sub-fund Sviluppo that invests in bonds and equities delivered 9.3% returns, and the sub-funds Crescita and Dinamico returned 10,6% and 14.1% respectively, it added. Maurizio Grifoni, the president of Fondo Fon.Te, said: “What seems inevitable is a serious reform of the second pillar (pension) system, which improves tax advantages to make it more accessible to all, in particular to young workers.”General director Anna Selvaggio added: “2024 was extremely positive for us. Complementary pensions are starting to spread across our sectors. After the [COVID 19] pandemic, companies have better assessed the benefits deriving from joining the supplementary pension scheme.”The latest digital edition of IPE’s magazine is now available
Mer. Gen 8th, 2025
