The Italian Stewardship Principles (see the document "Italian Stewardship Principles" on Assogestioni web site) were defined in accordance with the Principles contained in the "Code for External Governance" adopted by 'European Fund and Asset Management Association' (EFAMA).
Eurizon Capital SGR has adopted a Strategy for the exercise of administrative and voting rights in listed companies, in  compliance with the Italian Stewardship Principles, aimed at the effective integration between the corporate governance and the investment process.
In accordance with the Italian Stewardship Principles, Eurizon Capital SGR is oriented towards increasing proactive engagement with the investee issuers, by adopting a tailored Corporate Governance approach.

 

Stewardship: Eurizon’s approach

Eurizon has embraced the Italian Stewardship Principles in the belief that sound corporate governance policies and practices (which incorporate environmental, social and governance issues) are able to create value over the long term.
The Head of Corporate Governance, Cristina Ungureanu provides an insight.

 

Adoption of Italian Stewardship Principles

  1. Eurizon Capital SGR adopts a documented policy available to the public on whether and, if so, how they exercise their ownership responsibilities.
  2. Eurizon Capital SGR monitors its investee companies.
  3. Eurizon Capital SGR establishes clear guidelines on when and how it will intervene with investee companies to protect and enhance value.
  4. Eurizon Capital SGR may consider cooperating with other investors, where appropriate, having due regard to applicable rules on acting in concert.
  5. Eurizon Capital SGR exercises its voting rights in a considered way.
  6. Eurizon Capital SGR reports on the exercise of ownership rights and voting activities and have a policy on external governance disclosure.

Please see Policy of Eurizon Capital SGR S.p.A. regarding the adoption of the Italian Stewardship Principles:

Adoption of Italian Stewardship Principles for the Exercise of Administrative and Voting Rights in Listed Companies

 

Responsible Investment

Eurizon Capital SGR promotes a proactive engagement with its investee issuers, in the strong belief that companies that implement high standards of corporate governance are best positioned to generate long-term performance for its shareholders.

 

Eurizon Capital SGR embraces the Principles for Responsible Investment

Eurizon Capital SGR has embraced the Principles for Responsible Investment of the United Nations (UN-PRI), geared to achieving a sustainable global financial system, born from the partnership between the UN's Environment Programme (UNEP-FI) and the UN Global Compact - see our Press Release.

As a signatory to the Principles for Sustainable Investment, Eurizon Capital SGR pays special attention to policies implemented by the issuers in which it invests, in the belief that sound ESG (incorporating environmental, social and governance issues) policies and practices enable value creation for shareholders in the long term.

Eurizon Capital SGR provides transparency about the activities regarding the engagement and the exercise of voting rights at shareholders' meetings of companies whose securities are held in the portfolios of the managed funds.

Read our latest activity report on the exercise of the rights attached to the managed funds:

Engagement Policy - Report Year 2019

 

Engagement Policy - Report 1st semester 2019

 

Report on the participation at Shareholder meetings of companies with securities under portfolios of managed UCITS - Second Semester 2019

  

Report on the participation at Shareholder meetings of companies with securities under portfolios of managed UCITS - First Semester 2019

  

 

Strategy for the exercise of the rights attached to the financial instruments held in the managed UCITS

Eurizon Capital SGR has adopted and applied a specific "Strategy for the exercise of the rights attached to the financial instruments held in the managed UCITS", in order to ensure that such rights are exercised in the exclusive interest of the participants to the funds.
Such approach indicates the commitment of Eurizon SGR to high standards of Stewardship and Corporate Governance towards its investee issuers.

On behalf of the managed portfolios, the SGR participates at the shareholders’ meetings of selected companies with shares listed on the Italian Stock Exchange and on foreign exchanges, taking into account the benefits for the managed portfolios resulting from such participation, as well as the opportunity to influence decisions regarding the shares with voting rights held by the SGR.

Strategy for the exercise of the rights attached to the financial instruments held in the managed UCITS

 

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