Etica Sgr

What Etica Sgr does

Etica Sgr is an Italian asset management company (società di gestione del risparmio) founded in Milan in 2000 as the first and only SGR in Italy exclusively dedicated to responsible investment. Registered with the Bank of Italy under number 32 in the OICVM Managers section, the firm operates under the direction and coordination of Banca Popolare Etica, the cooperative parent within the Banca Etica Group. Its product suite consists of seven ethical mutual funds for private clients (Etica Azionario, Etica Bilanciato, Etica Transizione Climatica, Etica Obiettivo Sociale, Etica Rendita Bilanciata, Etica Obbligazionario Misto, Etica Obbligazionario Breve Termine), of which four are classified as SFDR Article 9 and three as SFDR Article 8 under EU Regulation 2019/2088, plus a Luxembourg-domiciled UCITS range and Class I institutional share classes for institutional investors.

The underlying investment methodology is built around a proprietary ESG Title Selection process that excludes companies involved in weapons, tobacco, gambling, nuclear energy, and other controversial sectors, combined with an ESG Risk Assessment framework, climate impact measurement (including carbon footprint analysis of portfolio companies), and active stewardship and engagement practices (including shareholder voting). Supporting infrastructure includes the My Etica reserved client portal for performance tracking and documentation, and EticAcademy, a training portal for financial intermediaries. Distribution occurs through a network of over 200 collocatori in Italy — comprising bank branches, online distributors, and financial consultants — augmented by direct online subscription through the corporate website.

The business model is 100% fee-based: Etica Sgr earns recurring management fees on AUM across both retail and institutional share classes. Specific fee schedules are disclosed only via fund prospectuses. The customer base is split horizontally between private/retail investors (primary segment) seeking ethical savings vehicles and institutional clients (secondary) including pension funds and insurance companies. The firm employs 11–50 people and has been recognized as a finalist at the PRI Awards 2026 for its microfinance and crowdfunding initiative, reflecting its continued positioning within the global responsible investment community.

Name

Etica Sgr

Legal name

ETICA SGR S.p.A.

Website

https://eticasgr.it

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Etica Sgr is an Italian asset management company founded in 2000, managing seven SFDR Article 8/9 ethical mutual funds plus a Luxembourg-domiciled institutional range for retail and institutional investors in Italy, under Banca Popolare Etica.

Ownership category

akta.pro rank

Product category

Responsible/ESG Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199), Investment Advice (6282)

akta.pro primary industry

Sustainable/Thematic Investing (Climate, Clean Tech, Water, Biodiversity) (FSAAALAB)

akta.pro secondary industries

ESG Reporting, Disclosure & Regulatory Compliance (SFDR, EU Taxonomy, TCFD/ISSB) (FSAAALAK), SDG / Thematic Sustainable Investment Funds (FSANAJAN)

Keywords

• Ethical mutual funds
• ESG asset management
• Responsible investment
• Sustainable fund management
• Socially responsible investing

Headquarters

HQ city

Milan

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. Fund Management Fees: Etica Sgr generates revenue through management fees charged on the ethical funds it manages. The funds include Etica Transizione Climatica, Etica Obiettivo Sociale, Etica Azionario, Etica Bilanciato, Etica Rendita Bilanciata, Etica Obbligazionario Misto, and Etica Obbligazionario Breve Termine. The company offers both retail and institutional (Class I) share classes.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Etica Sgr is an Italian asset management company that manages ethical mutual funds structured around ESG (Environmental, Social, Governance) criteria. The company offers seven retail ethical funds covering equity, balanced, climate transition, social objectives, and bond strategies, plus two institutional offerings (Luxembourg-domiciled UCITS funds and Class I institutional shares). All funds qualify under EU Regulation 2019/2088 (SFDR), with four classified as Article 9 sustainability-focused products and three as Article 8 sustainability-promoting products.

Product overview

Etica Sgr is an Italian asset management company and pioneer in ethical finance, established in 2000 as the only Italian SGR offering exclusively responsible investment solutions. The company's product portfolio consists of seven ethical mutual funds for private clients and two institutional offerings (Luxembourg-domiciled funds and Class I institutional shares), all structured around ESG (Environmental, Social, Governance) criteria. The fund range spans equity (Etica Azionario), balanced (Etica Bilanciato), and bond categories including mixed bond (Etica Obbligazionario Misto) and short-term bond (Etica Obbligazionario Breve Termine), plus specialized thematic funds (Etica Transizione Climatica, Etica Obiettivo Sociale, Etica Rendita Bilanciata). Four funds are classified as Article 9 products with explicit sustainability objectives, while three are Article 8 products promoting environmental/social characteristics. All funds qualify under the EU Sustainable Finance Disclosure Regulation (2019/2088). Distribution occurs through over 200 banking branches, online platforms, and financial consultants across Italy. Supporting services include a client portal (Area Riservata), a training platform for distributors (EticAcademy), and financial education resources (EduFin).

Differentiator

Problem solved

Functional benefit

Brands

• Etica Transizione Climatica: Article 9 ESG fund focused on climate transition
• Etica Obiettivo Sociale
• Etica Azionario
• Etica Bilanciato
• Etica Rendita Bilanciata
• Etica Obbligazionario Misto
• Etica Obbligazionario Breve Termine
• EticAcademy
• My Etica

Products and services

• Etica Azionario Equity-focused ethical mutual fund classified as Article 9 under EU Regulation 2019/2088, targeting investors seeking to give value to their savings through environmental, human rights, and good governance criteria.
• Etica Bilanciato Balanced ethical mutual fund classified as Article 9 under EU Regulation 2019/2088, combining equity and bond investments aligned with ESG criteria.
• Etica Transizione Climatica Climate Transition fund classified as Article 9 under EU Regulation 2019/2088, focused on investments supporting climate transition objectives.
• Etica Obiettivo Sociale Social Objective fund classified as Article 9 under EU Regulation 2019/2088, targeting investments with explicit social sustainability goals.
• Etica Rendita Bilanciata Balanced income ethical fund classified as Article 8 under EU Regulation 2019/2088, promoting environmental and/or social characteristics while respecting good governance practices.
• Etica Obbligazionario Misto Mixed bond ethical fund classified as Article 8 under EU Regulation 2019/2088, investing in a mix of bond instruments aligned with ESG criteria.
• Etica Obbligazionario Breve Termine Short-term bond ethical fund classified as Article 8 under EU Regulation 2019/2088, focusing on short-duration fixed income investments meeting ESG standards.
• Gamma Lussemburghese di Etica Sgr Luxembourg-domiciled fund range for institutional clients, providing ethical investment solutions under a UCITS-compliant structure for cross-border distribution in Europe.
• Fondi Etici – Classe I Institutional Class I ethical funds with minimum subscription requirements and reporting structures suited for institutional investors, providing the same ethical investment strategies as retail funds but with institutional pricing and reporting.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Banca Popolare EticacoreOthersParent company subject to direction and coordination. Banca Popolare Etica is the controlling entity of Etica Sgr, representing the cooperative banking group focused on ethical finance.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• BlackRock: BlackRock is the world's largest asset manager, with iShares ESG/sustainable ETFs and broader SFDR-classified fund ranges. It represents the ultimate scale competitor in sustainable investing against boutique specialists like Etica Sgr.
• Pictet Asset Management: Pictet AM is a Geneva-based asset manager with a deep sustainable and thematic equity fund range (e.g., Pictet Quest, Pictet Timber, Megatrend funds, climate transition mandates). Its thematic and ESG focus overlaps with Etica Sgr's product positioning across European institutional channels.
• Schroders: Schroders is a large UK-headquartered global asset manager with a significant sustainable investment franchise (Schroder ISF Sustainable funds, climate transition strategies, SFDR-classified products). It competes with Etica Sgr for European institutional and retail ethical mandates.
• Amundi: Amundi is Europe's largest asset manager with an extensive ESG/sustainable fund range (Amundi SFDR Article 8/9 funds, including climate transition strategies). It competes with Etica Sgr for retail and institutional ethical mandates across Italy and Europe at far greater scale.
• Eurizon Capital: Eurizon is Italy's largest asset manager (part of Intesa Sanpaolo) with a broad product range including dedicated ESG/sustainable fund lines (e.g., Eurizon Fund Sustainable Equity). It is the most relevant Italian retail competitor and distribution benchmark for Etica Sgr.

Direct peers

• Triodos Investment Management: Triodos IM is a Dutch sustainable investment manager exclusively focused on responsible and impact investing, managing equity, bond, and mixed-asset funds with strict ESG screens. Like Etica Sgr, Triodos is a specialist ethical asset manager rooted in banking-group heritage (Triodos Bank), making the business model and target audience directly comparable.
• Anima Sgr: Anima is one of Italy's leading independent asset managers, offering multi-asset and equity funds including dedicated ESG lines. Its Italian retail distribution network and product positioning make it a close domestic peer to Etica Sgr.
• Anthos Fund & Asset Management: Anthos is a Dutch mid-sized asset manager with a strong sustainable and responsible investment focus across multi-asset funds, including Article 8/9 classified strategies. As a similarly sized European sustainable specialist, Anthos is a close structural comparable to Etica Sgr.
• Robeco: Robeco is a Dutch asset manager with one of Europe's broadest sustainable investment platforms, integrating proprietary ESG screens, climate metrics, and stewardship practices across equity and fixed income strategies. It is directly comparable to Etica Sgr on responsible-investment methodology and product breadth.

Regional players

• Deka Investment GmbH: Deka is a large German asset manager serving the Sparkassen cooperative banking network with multi-asset funds including ESG/sustainable mandates. As a European cooperative-banking-affiliated asset manager serving retail through a bank-branch distribution model, it is a structural peer though Germany-focused rather than Italian.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/eticasgr
• Facebookfacebook.com/EticaSgr
• LinkedInlinkedin.com/company/eticasgr

Revenue estimate

Valuation estimate

Number of profiles

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 Etica Sgr