Etica Sgr

Etica Sgr (Etica) is the only Italian investment management company specialized in SRI.

Etica Sgr is completely dedicated to the provision of socially responsible investment solutions for retail and institutional clients. Etica Sgr was established in 2000 and has been operating since February 2003 following the launch of 3 open-end SRI funds called "Valori Responsabili" (Responsible Values). A fourth fund was launched in January 2007.

Since their launch date the 4 funds have collected over 300 Mn euros from about 13,000 clients, a large part of which are family, catholic foundations, parish churches, religious congregations and NGO's.

The funds only invest in companies and countries selected in cooperation with the ethical advisor and approved by the Ethical Committee and the Board of Etica Sgr.

Companies involved in the production and commerce of weapons, the development of nuclear energy, animal testing for cosmetics, and other activities (such as tobacco production, gambling, etc.) are a priori excluded.

Etica Sgr is responsible for funds administration and promotion and coordinates relations with funds' distributors, the Ethical Advisor, the Ethical Committee and retail and institutional clients.

The funds are managed by Anima Sgr, the asset management company of Banca Popolare di Milano Group.

The company is committed to sustainable development by:

· investing the whole of its assets in best in class companies and countries in the field of social responsibility;

· working in close cooperation with an experienced ethical advisor and an independent Ethical Committee;

· involving key stakeholders in the evaluation process based on Corporate Social Responsibility (CSR) criteria;

· involving mainstream partners (banks, companies) with the aim of positive influencing the financial and economic systems. Etica Sgr is a member of ICCR and signed the PRI;

· promoting shareholder awareness and activism;

· stimulating debate on CSR and SRI (Socially Responsible Investment) within the financial community and general public;

· disclosing detailed information on the company web site and in corporate documents, thus aiming for a high degree of transparency;

· donating a percentage of the invested assets to a guarantee fund for microcredit projects in Italy.

Etica Sgr is also a consultant to major Italian asset owners offering SRI analysis of their portfolio and list of exclusion for controversial companies and countries.