Fondo Agenti Spedizionieri Corrieri (FASC)

Fondo Agenti Spedizionieri Corrieri (FASC)

Fondo Agenti Spedizionieri Corrieri was created in 1926 under collective agreements that took effect in 1933. It began as a public entity and converted to a non-profit foundation in 1994. The fund continues to serve employees in the shipping, freight-forwarding and courier sectors under the oversight of its founding social partners Fedespedi and Confetra. The portfolio centers on Italian real estate held directly or through FASC Immobiliare S.r.l. Confirmed positions include the Copernico Fund managed by Finint SGR and Infrastrutture Italia. Additional exposure runs to energy and utilities as well as raw materials. Geographic focus remains Italy, with holdings concentrated in Milan and Rome. Assets total $1.1 billion. The fund employs external providers that include Mangusta Risk Limited as risk manager since 2024, Société Générale Securities Services as custodian, Mercer as investment advisor and Nummus as financial advisor. In January 2025 Claudio Claudiani appeared before the Italian parliamentary commission of control to discuss fund management and financial health. Ownership of FASC Immobiliare S.r.l. gives the fund direct control over property acquisitions, renovations and dispositions. This integrated structure separates the core pension mandate from real-asset execution while preserving the 100 percent stake in the operating company.