Italian pension funds expect closer bond with depositaries

Three-quarters of Italian pension funds say depositary banks will play a more important role in their industry once new rules from the state pension regulator are passed.

Pension funds will need the support of depositaries to produce more transparent reporting and control systems and to lighten their administrative burden, says the survey by RBC Investor Services.

The rules from the Commissione Di Vigilanza Sui Fondi Pensione, the state pension regulator, are due to come into force at the beginning of 2013 for large pension funds.

A large majority of the pension funds surveyed, 83%, said they would need to undergo partial structural reorganisation to comply with the rules, with the remaining 17% expecting significant operational changes. Three-quarters of respondents said they believed the added administrative burden was unlikely to cost more than €100,000, though.

The rules aim to promote responsible governance by requiring pension funds to provide information on their investments and financial targets, and will put in place safeguards designed to prevent avoidable losses.

©2012 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST