Mission statement

Etica Sgr is the investment management company of Banca Etica
(www.bancaetica.com), the first ethical bank in Italy.
Etica Sgr is completely dedicated to the provision of socially responsible investment solutions for retail and institutional clients.

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;

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

· working in close cooperation with an experienced ethical advisor (Eiris) 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;

· 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;

· being part of the Banca Etica System, which also includes a microfinance institution, a cultural foundation for ethical responsibility and a publisher of magazines (e.g. Valori) and books on CSR and SRI.


PRESS RELEASE
Data at 2009's end

History

Etica Sgr was established in 2000 and has been operating since the 18th February 2003 following the launch of three open-end SRI funds called "Valori Responsabili" (Responsible Values).A fourth fund was launched in January 2007.

Click here for the Prospectus.

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

The funds only invest in companies and countries selected in cooperation with the ethical advisor Eiris 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 Bipiemme Gestioni Sgr, the asset management company of Banca Popolare di Milano Group. Bipiemme Gestioni can invest only in the investment universe approved by Etica Sgr.

The four SRI funds currently promoted by Etica Sgr are:

· Valori Responsabili Monetario, a Short-Term Bond Fund (no investment in equities);

· Valori Responsabili Obbligazionario Misto, a Medium-term Mixed Fund (max. 20% invested in equities);

· Valori Responsabili Bilanciato, a Balanced Fund (max. 70% invested in equities);

· Valori Responsabili Azionario, an Equity Fund (100% invested in equities).

Other activities in which Etica Sgr is currently involved are the education of the general public and the training of bank clerks on CSR and SRI issues.
Since the end of 2002 Etica Sgr has taken part in more than 180 public assemblies, meeting about 7.000 people. Etica Sgr creates high profile SRI pension fund and it is a pioneer in Italy in the field of shareholder engagement and activism. The affiliation to ICCR (Interfaith Center on Corporate Responsibility) and the participation at the annual general metting of Indesit Company are but the first important steps towards this target.