Cometa, the private pension fund for Italy’s metal workers, is seeking to hire a maximum of six managers in the 400 billion lire ($223 million) fund’s first move to outside management.
The Milan-based fund will hire managers to run three different balanced approaches: "conservative,’’ with a breakdown of 10% stocks and 90% bonds; "income,’’ with stocks making up between 10% and 30%; and "growth,’’ with stocks accounting for 70% to 90% of the total. Portfolios will be invested in euroland, U.K., Swiss, U.S. and Japanese securities; allocations for each area have not been set.
Applications must be received by May 4; a selection will be made by the end of June.
Details (in Italian) are available at www.cometafondo.it. No consultant is being used.
