Eurosif Transparency Code for Etica Funds’ SICAVs

Etica Funds, through the SICAV sub-funds of its Luxembourg range, has adopted the European SRI Transparency Code.
The funds in Etica Funds’ Luxembourg range [1] are therefore aligned with the SRI Transparency Code (more info).

TheCodice Europeo per la Trasparenza degli Investimenti Sostenibili e Responsabili (European SRI Transparency Code) trasparency of Etica Funds’ SICAV sub-funds

The European SRI Transparency Code launched for the first time in May 2008 principally aims to increase the responsibility and transparency of the SRI policies and practices adopted by investment funds towards end investors in Europe.

Through the Eurosif Transparency Code, Etica Funds — as the investment manager for the three sub-funds of the Multilabel SICAV — undertakes to provide clear and complete information to enable all stakeholders to understand the sustainable and responsible investment (SRI) practices and policies applied to the SICAVs of the Luxembourg range, aiming to provide greater transparency towards end investors.

More detailed information on the European SRI Funds Transparency Guidelines can be found here at

The Luxembourg range of Etica Funds

Etica Funds’ Luxembourg range consists of three sustainable and responsible sub-funds [2] that aim at replicating the consolidated strategies adopted by the Italian range of Etica Funds. This range also has a simple and linear structure and aims to offer investors the option to choose the sub-fund or combination of sub-funds that best meet their strategic allocation needs in a sustainable and responsible way.
For more information on our Luxembourg range, please click here.

What is Eurosif?

Eurosif (European Sustainable Investment Forum) is the European association devoted to promoting sustainable and responsible investment (SRI) on the financial markets, supporting funding through private and public investment capital that contributes in a measurable way to the sustainable development goals set by the United Nations, the European Union and other European countries.
Moreover, the Forum works in partnership with national Sustainable Investment Forums (SIFs) and with the support of affiliated members involved in the process of creating value in the SRI industry, such as institutional investors, asset management companies, financial service providers, ESG research and analysis companies, universities and NGOs.
Eurosif is one of the main sources of information on sustainable finance in Europe. Furthermore, its core activities include developing public policy proposals, conducting research, and promoting platforms to share SRI best practices.

For more information visit


The European SRI Transparency logo signifies that Etica Funds undertakes to provide accurate, adequate and timely information to enable all stakeholders to understand Sustainable Responsible Investment (SRI) policies and practices. Detailed information about the European SRI Transparency Code can be found on, and information of the SRI policies and practices of Etica Funds can be downloaded at The Transparency Code is managed by Eurosif, an independent organisation. The European SRI Transparency Code logo reflects the commitment of the Fund Manager as detailed above and should not be taken as an endorsement of any particular company, organisation or individual.

[1] Etica Funds is the investment manager for the three sub-funds. GAM (Luxembourg) S.A. (belonging to GAM Holding AG) is the management company and domiciliary agent of MULTILABEL SICAV.
[2] Etica Sustainable Conservative Allocation, Etica Sustainable Dynamic Allocation and Etica Sustainable Global Equity are the three sub-funds that comprise MULTILABEL SICAV, a SICAV under Luxembourg law, established by GAM (LUXEMBOURG) S.A., Luxembourg, on behalf of Etica Sgr S.p.A. The funds of Etica Funds are authorised for sale in the following jurisdictions: Switzerland, Spain, Luxembourg and Italy (the latter solely to institutional customers). Etica Funds is a registered trademark of Etica Sgr.

Marketing Communication Disclaimer

This communication has been written by Etica SGR S.p.A., as investment manager and global distributor of the funds Etica Sustainable Global Equity, Etica Sustainable Dynamic Allocation, Etica Sustainable Conservative Allocation (the “Funds”) of the SICAV under Luxembourg law called Multilabel Sicav, established by GAM (Luxembourg) S.A. and is intended for professional investors only. Investment in the Funds entails the acquisition of shares in the SICAV and involves risks associated with possible changes in the share values, which are in turn affected by fluctuations in the value of the financial instruments in which the assets of the Funds are invested. Investors should conclude an investment transaction involving the Sub-Funds only after having fully understood their overall characteristics and degree of exposure to related risks, by carefully reading the Prospectus and the key investor information document (KID), which, together with information on sustainability pursuant to Regulation (EU) 2019/2088, can be found at Investing in the Funds offers no guarantee of return and does not ensure repayment of initially invested capital. Any future returns are subject to taxation, which is based on the personal situation of each investor and may change in the future. The investment goals, situation and financial needs of potential recipients have not been taken into account in the drafting of this communication. It can therefore in no way be interpreted as investment advice. The recipients of this communication assume full and absolute responsibility for the use of the information it contains, as well as for any investment decisions made on the basis thereof, since any use of the information as support for investment decisions is not permitted and is at the investor’s own risk. The Funds are authorised to be marketed in Italy exclusively to professional investors. The issuer may, however, decide to stop marketing them in Italy. The Funds are not authorised to be marketed in certain jurisdictions. Therefore, marketing activities may not be conducted in relation to them in those jurisdictions. This communication may not be distributed to parties other than its intended recipients, nor reproduced in all or in part, in any form whatsoever, without the prior authorisation of Etica SGR S.p.A.

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