Balance 2014: A Record Net Profit of 1.8 Million

Etica Sgr closes the 2014 Balance project with record net profits of 1.8 million euros (+173%)

A dividend of 2.5 euros per share is proposed. The assets of the funds at the end of the year amount to 1.3 billion euros

  • Gross profit amounts to 2.8 million euros (+136% compared to 2013), active commissions to 13.7 million (+79%) and the intermediation margin is 5.8 million (+67%).
  • The management committee of Etica Sgr proposes to the shareholders the distribution of a dividend of 1.1 million euros, equal to 2.5 euros per share.
  • The net fundraising of the Valores Responsables funds in 2014 closes to +466 million euros. The managed assets amount to 1.3 million euros (+70%).
  • The number of clients (active positions) exceeds the figure of 68,000 (+77%). Etica Sgr is confirmed as the first operator in the sector of ethical funds, with a market share of 42% (Assogestioni data as of December 31, 2014).
  • Active shareholder: interventions in the boards of 27 companies (ten of them Italian) present in the portfolio of the funds.
  • The guarantee fund for microcredit in Italy amounts to 1.3 million euros for 2015.

The Board of Directors of Etica Sgr, the asset management company of the Banca Popolare Etica group, approved the 2014 Balance sheet project, which registered net profits of 1.8 million euros (+173% compared to 2013). The active commissions amount to 13.7 million euros (+ 79%), while the intermediation margin amounts to 5.8 million euros (+67%). The gross benefits amount to some 2.8 million euros (+ 136%). For the third consecutive year it is proposed to distribute a part of the benefits to the partners: the proposed dividend is 1.1 million euros, equal to 2.5 euros per share (last year it was 1 euro per share). The 2014 Balance Project and the distribution of benefits will be presented to the Shareholders’ Meeting, which will be held on April 29, 2015, for approval.

« 2014 closed with very positive results for Etica Sgr. The assets managed by the Valores Responsables funds reached 1.3 billion on behalf of more than 68,000 customers. A historic milestone for Ethical Finance, which confirms once again that there is a growing interest on the part of Italian savers in finance attentive to the social and environmental consequences, ” says Ugo Biggeri , president of Etica Sgr. ” The results show how a careful composition of the investment portfolio carried out by selecting the companies and the states that have the best results in terms of social, environmental and government attention, determines good results and considerable interest on the part of investors. We are also very satisfied with the social and economic impact we are developing through active shareholding and microcredit. “

« Only in 2014 the company has already focused on the objectives of capturing the three-year plan», adds Alessandra Viscovi , general director of Etica Sgr. « These give us strength to continue our work of promoting Ethical Finance with even more enthusiasm, settling in the Italian market as a leader in the sector. In particular, we are studying new products and services that we will be launching during the year in order to further boost the development of responsible finance. “

Active shareholder in 2014

In 2014, the active shareholder activity continued to grow: Etica Sgr voted at the shareholders’ meetings of 27 companies, ten of them Italian. ” We have intervened specifically on environmental issues such as global warming, environmental monitoring of the supply chain, the use of environmental parameters in the calculation of management remuneration, the use of water and sustainable food,” says Leonardo Becchetti , president of the Ethics Committee. ” In addition, issues related to human rights and social and environmental reports have been addressed.”

The patrimony and the clients grow

In 2014, the net collection of the Valores Responsables funds was 446 million euros , while the managed assets grew to 1.3 billion euros (+70%) . There was also a significant increase in the number of clients (active positions), which at the end of the year exceeded 68,000 (+77%). The PAC instrument was a great success, and thanks to different campaigns supported by some investment agents, it was chosen during the year by more than 18,900 savers, with the total number of PACs active at the end of the year exceeding 34,000 According to the latest findings of Assogestioni (as of December 31, 2014), Etica Sgr is the first operator in Italy in the field of ethical common funds, with a market share of 42%.

Acquisition of Etica Sgr vs open funds market in Italy.

Data as of 12/31/2014. Source: Etica Sgr processing based on data from Assogestioni.

Support for microcredit in Italy

The good evolution of the 2014 uptake has made it possible to increase aid to the real economy and to small entrepreneurs in Italy, increasing the assets of the guarantee fund for microcredit projects by almost 1.3 million euros . This fund, managed by Banca Etica and fed by the optional contribution of the subscribers of the funds Responsible Securities (0.1% of the invested capital), allowed last year to grant 45 new financing, 45% of which gave rise to initiatives enterprising

Integrated Balance Also for 2014, for the fifth consecutive year, Etica Sgr decided to write the Integrated Balance, which links the civil part with the main economic results of the company and the sustainability report carried out according to the guidelines of the “GRI – Global Reporting Initiative ” (version GRI- G4).