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Fondo Espero, the €1.5bn Italian pension fund for school employees, has appointed Schroders and Amundi to manage assets in its ‘Crescita’ sub-fund, following a recent manager selection process.

Former condo association president Gregori Arzumanov, who is already facing a state racketeering indictment, was hit with federal charges for allegedly stealing more than $700,000 in building funds.