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Fondenergia hires Societe Generale Securities Services

04 February 2014

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Italian pension fund Fondenergia has appointed Societe Generale Securities Services (SGSS) to act as its depositary bank.

SGSS will provide will provide custody and depository bank services to monitor the fund, and trustee services to ensure that all the controls requires by the Italian regulator are fully met to reach its investment goals.

Fondenergia chose SGSS based on its capability to provide solutions, which are able to meet the fund's operational needs in a constantly evolving regulatory environment.

Fondenergia is a contractual pension fund for employees within the Italian energy industry.

According to its annual report, the fund is made up of three schemes, Bilanciato, Guarantito and Dinamico, and in total there are around 40,000 members and €1.27bn assets under management.

First published 04.02.2014