An Italian corporate pension fund managing €330m (£220m) is moving millions of euros to external managers next year and will consider absolute return strategies, following a trend of retirement schemes allocating money to non-traditional asset classes.

The Fondo di Previdenz per il personale della Cassa di Risparmio di Firenze, a pension fund for a bank headquartered in Florence, has been managing its assets internally but plans to hand responsibilities to external managers, according to MandateWire.