Asset Management
The Foundation predominantly adopts a direct asset management approach, entrusted to its internal operational structure, which is responsible for managing strategic investments, the trading portfolio and treasury activities.
Indirect management mainly concerns investments in alternative funds, including private equity, private debt, and the infrastructure and real estate sectors.
The Foundation relies on the expertise of external advisors, selected on the basis of their specific competencies, to support the definition of its investment strategies.
The Articles of Association and the Asset Management Regulations define the roles, responsibilities and competencies of the Foundation’s governing bodies and internal structure.
Investment Performance
The period 2020–2024 reflects a sustained process of asset consolidation, with the Foundation’s assets rising to €2.69 billion, accompanied by strong growth in investment returns. Ordinary income as a percentage of the Foundation’s assets recorded an extraordinary acceleration, increasing from 3% in 2020 to approximately 12% in 2024, marking a record result for the institution.
This financial strength translates directly into the Foundation’s ability to generate value for the community. Net income followed a similarly positive trajectory, reaching its highest level in the last year at 9.5% of net assets.
Over just five years, performance has doubled, enabling the Foundation to consistently support the social, cultural and economic development of the region.
€2.69 billion
- Net Assets as at 31 December 2024
€4.54 billion
- Financial Investments (at market value as at 31 December 2024)
9.5% Net Income
- Relative to Net Assets as at 31 December 2024
Asset Allocation
The Foundation’s investment strategy is reflected in a diversified portfolio, featuring a strong presence in major international players and strategic financial assets.
Its main strategic holding is the contributing bank, in which the Foundation holds a 2.2% stake. Other significant investments include shareholdings in Assicurazioni Generali (1.9%) and Mundys (5.2%), one of the world’s leading infrastructure operators.
Additional key investments include a stake in Cassa Depositi e Prestiti, a substantial component dedicated to supporting local development, and a liquid and diversified portfolio designed to balance capital preservation with a steady stream of returns to sustain the Foundation’s institutional activities.
ESG Principles in the Foundation’s Investment Funds
Fondazione CRT promotes the economic and social development of Piedmont and the Aosta Valley through a progressive integration of ESG (Environmental, Social and Governance) principles into its investment policy. The Foundation believes that environmental, social and governance factors have a significant impact on the long-term performance of investments and therefore considers them an integral part of a sustainable and responsible approach to asset management.
Articles of Association and Asset Management Regulations
The Articles of Association and the Asset Management Regulations define the roles, responsibilities and competencies of the Foundation’s governing bodies and internal structure.
The Board of Governors establishes the general guidelines and overall objectives for asset management and investment policy, ensuring consistency with the Foundation’s mission and nature, and provides the framework for determining the Strategic Asset Allocation.
The Board of Directors is responsible for operational management decisions, in accordance with the principles and criteria established by the Board of Governors.
The Foundation’s Regulations set out the objectives and criteria governing asset management, identify areas of responsibility and define the procedures and methods through which the Foundation’s assets are managed.