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Eurizon Capital SGR

PRI reporting framework 2020

Export Public Responses

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

          all controversial weapons

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

We believe that ESG issues are often materially reflected in the stock price and the sustainability of the business of our invested companies. Therefore, we took an approach of integrating environmental, social and governance (ESG) issues into investment analysis and decision-making across the full range of assets.

ESG principles are applied to all active management funds, both benchmark-based and flexible. These include specialised ESG products, which consider specific factors and use an appropriate internal ESG rating system, and ethical products with dedicated benchmarks that are managed in respect of strict criteria in selecting positive and negative issuers. ESG criteria are not applied to passive/index-linked products, and to so-called "wrapper" products (such as, for instance, funds of funds, retail and unit-linked portfolios). Every three months, the SRI Committee (chaired by the CEO) discussed about the lowest rated issuers in our portfolios, deciding about the escalation process to apply.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]



01.6. Additional information [Optional].


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.





02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].

We have always believed that companies conducting their business in ethical, responsible and sustainable manner are more likely to succeed over time benefiting both our customers and the Society.

It has been in our DNA for the last 20 years. Already in 1997 we launched the first Ethical Funds in Italy in early 2000, we commissioned a customized SRI fixed income benchmark. We believe in encouraging greater transparency and better corporate behaviours as a way to help reduce the risk and enhance the long-term value for our clients. We have then practiced soft engagement with several companies held in our ethical international portfolios.

Within the last three years we have decided to integrate environmental, social and governance (ESG) issues into investment analysis and decision-making across the full range of assets as we believe in their materiality in the stock price as much as in the environment and the society.

Our long history of SRI investing is based on the belief that we can and must offer solutions to our clients’ growing awareness on environmental and social issues.

Our approach to stewardship and active ownership draws on our conviction that investors' fiduciary responsibilities go beyond capital allocation decisions as our influence can be used to drive strong sustainability performance, which we believe delivers improved long-term returns.

SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Eurizon Capital issues a 50 pages detailed protocol procedure to manager conflict of interest, to preserve the autonomy desicion making while investing for our clients.

Document: Regulations for Managing Conflicts of Interest of Eurizon Capital SGR (last version: September 2019)

This Regulation describes the circumstances that cause or could cause conflicts of interest which may potentially harm the interests of one or more Customers/Investors/UCIs and that could arise between Eurizon Capital SGR S.p.A. and/or its Relevant Persons and the Customer/Investor/CIU or between Customers/Investors/UCIs of the SGR, when providing Investment services and activities or Collective Asset Management services or a combination of the two.

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios (Private)