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SGSS in Italy mandated by the energy pension fund Fondenergia

SGSS (SGSS S.p.A.) in Italy has been appointed by the Italian energy pension fund, Fondenergia, to act as its depositary bank.

SGSS provides European pension funds with a comprehensive service built around asset protection, performance and reporting. SGSS S.p.A. was retained by Fondenergia for its capacity to provide clients with innovative solutions capable of meeting their operational needs in a constantly evolving regulatory environment. Through this mandate, Fondenergia benefits from custody and depositary bank services for fund monitoring and trustee services to ensure that all the controls required by the Italian regulator are met for full compliance in order to reach its investment goals.

SGSS in Italy offers a complete range of securities services, including settlement, custody and trustee services, fund administration, middle-office services, risk & performance, liquidity management and transfer agent services.

Fondenergia is a contractual pension fund for employees in the Italian energy industry. At the end of 2012, assets under management totalled around 1,269 million Euros and the estimated net contribution assets will amount to around 100 million Euros for 2013 and the following years. The Fund is subscribed to by around 40,000 members. Fondenergia was the first Italian contractual pension fund to be named “Best Pension Fund in Italy” by Investment & Pension Europe magazine.