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Etica SGR

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

Etica Sgr is the asset management company of Banca Etica Group founded in 2000. Since 2003, Etica Sgr is the only Italian asset management company that exclusively offers sustainable and responsible mutual funds aimed at private and institutional investors.

The investment solutions that Etica Sgr offers are UCITS funds belonging to "Sistema Etica". Etica Sgr's sustainable and responsible funds have been set out to create medium-long term performance for investors by focusing on companies and countries that adopt virtuous ESG practices (environmental, social and corporate governance).

The "Sistema Etica" is composed of six funds grouped in two lines: "Linea Valori Responsabili" and "Linea Futuri Responsabili" composed by "Etica Impatto Clima" launched in October 2018.

The "Linea Valori Responsabili" mutual funds invest in businesses and countries that adopt virtuous ESG practices, taking a global approach to themes and sectors. Currently the line is composed by five mutual funds covering all the main risk/return profiles. The "Linea Valori Responsabili" is composed of five funds: Etica Azionario, Etica Bilanciato, Etica Rendita Bilanciata, Etica Obbligazionario Misto, Etica Obbligazionario Breve Termine.

The "Linea Futuri Responsabili" is currently made up of the fund, "Etica Impatto Clima", which investment strategy is mainly focused on the topic of climate change.

Etica Sgr is also involved in engagement through dialogue with investee companies and the exercise of voting rights at their shareholders meetings. The dialogues are focused on ESG topics relevant for investors and for the company; the goal is to support sustainable business practises.

Moreover, when investing in the funds of "Sistema Etica" the investors can choose to devolve 0.1% of invested capital in favour of an Etica Sgr fund that guarantee microfinance projects and support crowdfunding initiatives in Italy with significant social and environmental impact, which are selected by the Parent company Banca Etica.

The Company website is available at the following link: https://www.eticasgr.com/en#

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Italy

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

40 FTE

02.4. Additional information. [Optional]

As of December 31st. 2019, in the Etica Sgr staff were 1,6 part-time employees (FTE).

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 40.73 0 0
Fixed income 10-50% 45.72 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 9.64 0 0
Money market instruments <10% 3.91 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].


06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

Etica Sgr "Sistema Etica" is composed of two lines:

1) "Linea Valori Responsabili" made of 5 mutual funds: Etica Obbligazionario Breve Termine, Etica Obbligazionario Misto, Etica Rendita Bilanciata, Etica Bilanciato, Etica Azionario. In terms of asset allocation, the composition varies from a portfolio of listed equities (up to 100%) in Etica Azionario, to portfolio made up to 100% bonds in Etica Obbligazionario Breve Termine.


2) "Linea Futuri Responsabili": it has been established in 2018 with the fund "Etica Impatto Clima" to invest in a low-carbon economy. In terms of asset allocation, the fund is classified as "balanced fund". The asset allocation is composed of equity and bond financial instruments denominated in Euro, US dollars and Yen; investment in open-ended UCITS units is allowed, whether harmonised or not harmonised. The equity of the fund, in compliance with the specific investment policy, may also be invested in financial instruments from a single issuer in an amount that exceeds 35% of its assets if the financial instruments are issued by companies in the European Monetary Union, on the condition that the fund contains at least six different issues and the value of each issue does not exceed 30% of the fund's assets: The bond portion invests prevalently in regulated markets in the Eurozone; the equity portion prevalently in regulated markets in the countries of Europe, North America and the Pacific. For bonds: prevalently corporate issuers and green bonds. For equity instruments: issuers of various capitalisation levels, with diversification of investments in all economic sectors.

Detailed information are available in corporate website, in the section dedicated to the "Ethical mutual funds".

OO 07. Fixed income AUM breakdown

07.1. Provide to the nearest 5% the percentage breakdown of your Fixed Income AUM at the end of your reporting year, using the following categories.

Internally managed
85.83 SSA
0.47 Corporate (financial)
13.70 Corporate (non-financial)
0 Securitised
Total 100%

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

99.88 Developed Markets
0.12 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

The exposure to emerging markets is marginal and it is due to the investment in only one security listed in South Korea, that is classified as "Emerging market" according to MSCI classification scheme.
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