During the same period in which assets under management in socially responsible funds at the national level fell by 30 percent, those invested in funds belonging to the “Responsible Values System” of Etica SGR (an asset promotion company that does not engage in asset management) doubled to 450 million euros in 2012.
The case tells what lies at the origin of this counter-trend performance: good fund returns compared to benchmarks, a selection process of countries and “investable” securities characterized by independence and rigor, transparent communication to both distributing banks and subscribers, and, above all, the passionate and experienced guidance of a director who chose to sacrifice more remunerative job opportunities in the financial sector to devote herself to a project in which she believed.