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Fondo Ventidue
Fondo Ventidue - Fondo Pensione Dipendenti Autobrennero is a corporate, defined-contribution pension scheme established in Trento for the workforce of...
Fondo Ventidue
Fondo Ventidue - Fondo Pensione Dipendenti Autobrennero is a corporate, defined-contribution pension scheme established in Trento for the workforce of Autostrada del Brennero S.p.A. The fund exists under the Italian complementary social security framework, negotiated and co-governed by the sponsoring employer and the founding trade unions: CGIL, CISL, UIL, and SLA. Its sole purpose is accumulating and managing the retirement capital of the motorway operator's employees. The fund's investment strategy reflects a risk-averse, capital-preservation mandate typical of a single-employer Italian 'Fondo Pensione Negoziale'. Portfolio construction is anchored by two pillars. First, insurance-based guaranteed products — specifically the Zurich Trend and GL Style Ramo V (Class V) life-insurance wrappers — that provide a contractual minimum return. Second, direct exposure to Italian commercial property through the UBS (I) Zurich Italy Real Estate Fund. The fund does not publicly report an allocation to equities, private equity, or hedge funds, placing it firmly in the lowest risk-profile category available to Italian complementary pension schemes. The board currently includes Fabrizio Colombo, Giulio Tedeschi, and Maria Teresa Bernelli in oversight roles, representing the balance between employer and union interests under the fund's statutory governance. Headcount and total net assets are not publicly disclosed. The fund maintains a single office in Trento, mirroring the geographic footprint of the sponsoring company's A22 motorway concession, which runs from Modena to the Brenner Pass at the Austrian border. A defining structural feature is its closed architecture. Unlike open Italian pension funds ('Fondi Pensione Aperti'), Fondo Ventidue is legally restricted to a specific industrial workforce — employees of Autostrada del Brennero. This creates an entirely captive subscriber base with no external commercial marketing effort. Investment policy is not driven by peer benchmarking against larger Italian sector funds like Cometa or Fondo Fopen, but rather by a liability-aware negotiation process strictly between the employer and the four union signatories.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
Italy
City
Trento
Corporate office
Trento, Italy
Principals
Fabrizio Colombo
Consigliere (Member of the Board of Directors)
Giulio Tedeschi
Consigliere (Member of the Board of Directors)
Maria Teresa Bernelli
Consigliere (Member of the Board of Directors)
Sector focus
Frequently asked questions
Who are the sponsoring entities behind Fondo Ventidue?
The fund is sponsored by Autostrada del Brennero S.p.A., the operator of the A22 motorway. It was established through collective bargaining with the founding trade unions CGIL, CISL, UIL, and SLA, who jointly govern the fund alongside the employer. This quadripartite union structure is a distinguishing feature of its governance, enshrined in the fund's statutory bylaws.
What is the investment strategy of Fondo Ventidue?
The strategy is highly conservative and typical of a guaranteed-return profile under Italian pension regulations. The known assets include Ramo V (Class V) insurance policies from Zurich and GL Style, which provide guaranteed minimum returns, and a direct allocation to Italian commercial real estate through the UBS (I) Zurich Italy Real Estate Fund. There is no public indication of exposure to equities, alternatives, or credit.
Is Fondo Ventidue open to external members or only Autobrennero employees?
The fund operates as a closed, negotiated pension fund ('Fondo Pensione Negoziale Chiuso'). Membership is strictly limited to current employees of Autostrada del Brennero S.p.A., as defined by the specific national collective labor agreement that governs the motorway operator sector. It does not accept individual members from outside the sponsoring company.
How is the fund governed?
Governance follows the standard Italian complementary pension model with a bipartite board equally representing the employer and the trade unions. Named directors include Fabrizio Colombo, Giulio Tedeschi, and Maria Teresa Bernelli. The board oversees asset management, which is entirely outsourced to insurance companies for the guaranteed products and to a third-party asset manager for the real estate fund.
Does Fondo Ventidue make direct investments or private equity commitments?
Based on its public profile and asset structure, the fund does not engage in direct private equity, venture capital, or hedge fund commitments. Its portfolio is limited to liquid insurance wrappers and a real estate fund vehicle. The conservative liability profile of a closed corporate plan for a state-linked infrastructure operator dictates this restricted approach.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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