What IMPact SGR does

IMPact SGR S.p.A. is an Italian asset management company (Società di Gestione del Risparmio) headquartered in Milan, authorized by the Bank of Italy on 28 October 2021 (OICVM Investment Manager Section, register number 61) and operating since 2017. Founded by Fausto Artoni, Stefano Gelatti Mach de Palmstein, and Gherardo Spinola, the firm specializes in listed impact investing strategies that integrate financial performance with measurable environmental and social impact outcomes. Following Banca Etica's acquisition of a 70% stake in February 2026, the founders retained a 30% stake and the firm became the listed impact investing center of the Banca Etica Group, assuming delegated management of Etica Sgr's mutual funds (€5.5 billion AUM).

IMPact SGR operates the World Impact SICAV, a Luxembourg-domiciled UCITS umbrella fund structure housing five proprietary sub-funds (IMPatto Italian Equity, IMPatto Global Equity, Sustainable Global Credit, Global Bond, and Active Balanced) classified under SFDR Article 8 or Article 9. The firm's core technology is a three-dimensional investment approach that adds active impact measurement as a third dimension beyond traditional risk-return optimization. Underlying methodologies integrate data from The Upright Project (Net Impact Ratio, SDG Performance Indicator, Health Impact), MSCI ESG Research, Physis Investment, and Bloomberg, with EU Taxonomy alignment and Paris-consistent decarbonisation trajectory indicators applied at portfolio level. Exclusions cover controversial sectors (armaments, fossil fuels, tobacco, gambling) and non-democratic states, and the Articles of Association mandate that at least 50% of annual profits flow to the IMPact Foundation for corporate philanthropy.

The business model is asset management fees on AUM, charged annually on subscription share classes (e.g., 0.50% on Global Bond, 0.70% on Active Balanced, 0.85% on IMPatto Global Equity), plus delegated management revenue from Etica Sgr within the Banca Etica Group. Go-to-market is sales-led, targeting both institutional and private (retail) clients through the Banca Etica distribution network, UCITS authorized intermediaries, and dedicated share classes (S, R, I, D) in EUR and USD. Marketing is concentrated in thought leadership, media presence (FundsPeople, Vanity Fair Italia), and CEO participation in industry events. The company has no subsidiaries, no public listing, and discloses share capital of €1.5 million fully paid.

Name

IMPact SGR

Legal name

IMPact SGR S.p.A. – Società di gestione del Risparmio

Website

https://impactsgr.it

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

IMPact SGR is a Milan-based Italian asset management company specializing in listed impact investing, operating the World Impact SICAV UCITS platform and managing €5.5 billion in delegated Etica Sgr funds within the Banca Etica Group.

Ownership category

akta.pro rank

Product category

Impact Investing Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Impact Investing (Intentional, Measurable Social/Environmental Outcomes) (FSAAALAC)

akta.pro secondary industry

ESG/SRI/Impact Mutual Funds (FSAAAEAI)

Keywords

• Impact investing funds
• Asset management services
• Ethical investment funds
• ESG investment strategies
• Sustainable fund management

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Asset Management Fees: IMPact SGR generates revenue through management fees charged on the assets under management across its proprietary funds (World Impact SICAV sub-funds) and delegated management of Etica Sgr funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

IMPact SGR is an Italian asset management company specializing in listed impact investing strategies that integrate financial performance with measurable environmental and social impact. It manages the World Impact SICAV umbrella fund (Luxembourg UCITS) with five proprietary sub-funds covering Italian equity, global equity, sustainable global credit, global bond, and balanced allocations, plus delegated management of Etica Sgr's ethical mutual funds. The company serves both institutional and private clients seeking responsible investment solutions with measurable impact outcomes through proprietary three-dimensional methodologies combining financial analysis with active impact measurement.

Product overview

IMPact SGR is an asset management company specializing in listed impact investing strategies that integrate financial performance with impact measurement. The company operates the World Impact Sicav umbrella fund structure containing five proprietary sub-funds: IMPatto Italian Equity (Article 9 equity), IMPatto Global Equity (Article 9 global equity), Sustainable Global Credit (Article 9 credit), Global Bond (fixed income), and Active Balanced (Article 8 balanced). Additionally, following its acquisition by Banca Etica Group in February 2026, IMPact SGR assumed delegated management of Etica Sgr's ethical investment funds. The product suite is unified by a three-dimensional investment approach combining financial return, risk management, and active impact measurement.

Differentiator

Problem solved

Functional benefit

Brands

• World Impact SICAV: A Luxembourg-domiciled SICAV (Société d'Investissement à Capital Variable) umbrella fund structure with multiple sub-funds managed by IMPact SGR, including IMPatto Italian Equity, IMPatto Global Equity, Sustainable Global Credit, Global Bond, and Active Balanced.

Products and services

• World Impact SICAV

Quantifiable outcome

• Impatto Lavoro Italia I EUR Acc achieved 41.63% return in 2025, ranking #1 among Italian funds

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• Etica SgrcoreStrategic or Co-development Partner · 1 February 2026IMPact SGR will assume delegated management of Etica Sgr funds as part of the group integration. Etica Sgr is another asset management company of the Banca Etica Group offering exclusively ethical mutual funds that exclude controversial sectors (armaments, fossil fuels, tobacco, gambling) and states not respecting press freedom, civil rights, or condemning capital punishment.
• IMPact FoundationcoreStrategic or Co-development PartnerIMPact SGR has established in its Articles of Association the binding requirement to use at least 50% of annual profits to fund corporate philanthropy strategy through IMPact Foundation. This represents the company's commitment to shared value creation beyond investment management.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Etica Sgr: Italian ethical asset manager and Banca Etica Group sister company offering mutual funds that exclude controversial sectors (armaments, fossil fuels, tobacco, gambling). IMPact SGR now manages Etica Sgr's funds under delegation, making them direct peers in Italian ethical mutual fund offerings.
• Triodos Investment Management: Dutch impact asset manager specializing in listed and private impact investing strategies with rigorous measurement frameworks. Direct peer in mission-driven listed impact investing with similar focus on measurable environmental and social outcomes.
• Mirova: French sustainable asset manager (Natixis subsidiary) specializing in listed impact investing and ESG thematic strategies. Highly comparable in mission, methodology, and product architecture including Article 9 classification focus.
• Candriam: Belgian asset manager (New York Life subsidiary) with strong ESG and impact investing capabilities across listed and private markets. Comparable in long-standing ESG expertise, Article 9 strategies, and institutional client focus.
• RobecoSAM: Swiss asset manager (Robeco subsidiary) specializing in sustainable investing with proprietary impact measurement and ESG integration. Comparable in listed impact strategies and quantitative sustainability assessment frameworks.

Broad incumbents

• Amundi: Europe's largest asset manager with extensive ESG and impact fund offerings including Article 9 strategies. Competes across institutional and retail channels with substantial scale advantages in distribution and pricing.
• Anima Sgr: Major Italian asset manager offering ESG-screened funds alongside traditional products. Competes with IMPact SGR for Italian retail and institutional sustainable investment allocation but lacks IMPact's dedicated impact measurement focus.
• Eurizon Capital: Italy's largest asset manager (part of Intesa Sanpaolo) with significant ESG and sustainability-themed fund offerings. Comparable in serving Italian institutional and retail clients seeking sustainable investment products, but at much larger scale and broader product range.
• Pictet Asset Management: Swiss private bank and asset manager with thematic and sustainable strategies including impact-focused funds. Competes in European institutional and private banking channels with broader product range but comparable sustainability-focused offerings.

Regional players

• Ecofi Investissements: French socially responsible investment (SRI) specialist asset manager with long-standing expertise in ESG screening and impact funds. Comparable in dedicated SRI focus and Article 9 product positioning within a specific European market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/impact-sgr

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IMPact SGR