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INARCASSA

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

“INARCASSA - Cassa Nazionale di Previdenza ed Assistenza per gli Ingegneri ed Architetti Liberi Professionisti”, (National Social Security and Welfare Fund for Freelance Engineers and Architects), in short, INARCASSA, in accordance with the provisions of Italian Legislative Decree 30 June 1994 no. 509, is a non-profit organisation which performs activities in the public interest, with legal personality under private law in accordance with Articles 14 et seq of the Italian Civil Code and Italian Presidential Decree dated 10 February 2000 no. 361. 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Italy

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

217 FTE

02.4. Additional information. [Optional]


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

No, beacuse Inarcassa has no subsidiaries


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

29/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

Inarcassa investment approach combines the ESG parameters through the selection of asset manager/financial instruments that apply environmental, social and governance criteria, favoring the best within a universe, a category or a class of assets. At the end of 2019, more than 30% of Inarcassa total assets are allocated in instruments with a responsible view. To support implementation of sustainable investment criteria to the portfolio, Inarcassa selected during the 2018 Vigeo Eiris as a ESG advisor for investment evaluation.


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 6.36 10-50% 17.1
Fixed income 10-50% 12.8 10-50% 22.48
Private equity <10% 1.97 <10% 2.57
Property <10% 0.4 10-50% 16.3
Infrastructure <10% 0.6 <10% 2.9
Commodities 0 0 <10% 2.47
Hedge funds 0 0 <10% 5.67
Fund of hedge funds 0 0 0 0
Forestry 0 0 <10% 0.12
Farmland 0 0 <10% 0.05
Inclusive finance 0 0 0 0
Cash <10% 0.76 0 0
Money market instruments <10% 7.4 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The investment activity in 2019 was aimed at achieving the risk and return objectives set in the Strategic Asset Allocation approved by the National Delegates Committee. The comparison between Tactical Asset Allocation and Strategic Asset Allocation, at the end of 2019, shows a slight underexposure in the bond and equity class, in favor of an overexposure of the monetary sector which is justified as usual with the important incoming contribution flow of the last week of the year. At the end of December, Inarcassa's equity at current market values ​​is confirmed to be close to 11.6 billion Euros with a positive contribution from all components. The management activity was supported and validated by the periodic verification of the expected risk / return parameters of the Strategic Asset Allocation carried out by the external risk control company, which highlighted a trend towards a reduction in the overall risk of the investment portfolio.


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

92.1 Developed Markets
7.9 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]


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