La relazione tra qualità e crescita nel mercato italiano dei fondi pensione aperti

[Machine translation] The purpose of this article is to verify whether the quality of Italian open pension funds, derived from the information on performance and costs contained in the prospectuses, is able to influence the ability to attract members and funding flows. The results highlight how annual performance and costs are irrelevant to attracting members. Other variables, such as the size of the funds and the market strength of the sponsor, are able to explain a significant share of the growth of the various funds. Although the incidence of these factors has decreased after the provisions of European regulation no. 1286/2014 on PRIIPS, they continue to be dominant., These results suggest the advisability of a further review of the set of information in the prospectuses in order to facilitate the comparison between competing products and to increase the informative effectiveness of the benchmarks. This effort should be supported by social security education interventions, aimed at increasing sensitivity and awareness of the tools available to promote informed choices.