Generali Italia has been awarded the management mandate for the two TFR Silente and Sicurezza 2020 investment segments of Cometa, the National Supplementary Pension Fund for workers in the engineering industry, installation of plants and related sectors and for employees in the gold and silver sector – for the next ten years, making use of the consolidated skills in the management of institutional mandates of Generali Investments.
The solution developed by Generali Italia and Generali Investments for Cometa it has made it possible to find a point of synthesis between the need to protect the future of the members of the fund in the long-medium term, and current market and regulatory conditions. In fact, in a context such as the current one, it is important that the leaders of the sector together redefine the management of pension mandates through sustainable innovative solutions not only for members of the funds, but also for managers and for the Italian system as a whole.
With this objective, a new dynamic multi-asset management was defined, which integrates the social security dynamics of individual members within a completely flexible model, with careful risk management and solid financial guarantees. The agreement entered into between Generali Italia and Cometa, fund that has over 411.000 members, entered into force on 1 June, will be valid for ten years and will affect two guaranteed sectors, the Silente severance indemnity sector and the 2020 Safety sector.
Generali Insurance Asset Management SpA Asset management company, which will be the managing director of the two segments, is a leader in supplementary pensions with consolidated experience in the management of institutional mandates and in liability-driven solutions, and approximately 460 billion euros of managed assets on behalf of both the Generali Group and third party clients. While Generali Investments Partners SpA Asset management company played a decisive role in defining the solution and coordinating all the players involved.
“Generali – commented Giancarlo Bosser, Chief Life & Employee Benefits Officer of Generali Italia – consolidates its leadership on the pension fund market with a partner, Cometa, with whom it shares vision, strategic innovation and solid experience. This partnership will become a real point of reference for the entire national panorama of supplementary pensions".
“In this complex period – he added Francesco Martorana, CEO of Generali Insurance Asset Management SpA SGR -, it is very important that Italian excellences work together towards a common goal. Together with Generali Investments Partners, we are proud to have put our expertise in the management of pension mandates and risk management at the service of a leading player like Cometa to protect people's capital; this also means being a 'life partner'.”
“The assignment of mandates for the management of the two guaranteed sectors – is instead the opinion of Oreste Gallo, President of the Cometa Fund – is an important result in a certainly complex moment, which underlines the Fund's ability and willingness to make available to members financial solutions that are compliant with the various welfare profiles and objectives and suitable for navigating changing market scenarios. We are pleased that Generali's offer made it possible to meet the parameters we set. I sincerely thank the Board of Directors and the structure of Cometa for their commitment and hard work."
