IMPact SGR is an asset management company specialising in listed impact investing strategies, which integrate financial performance targets and impact measurement.
IMPact SGR wants to respond more effectively to the needs of institutional and private clients who wish to invest responsibly and with a long-term vision, making a tangible contribution to building a more equitable, resilient, and sustainable future for all.
IMPact’s mission is to help allocate capital to companies capable of responding to the crucial challenges of our time, starting with climate change, thereby generating net positive impact for people and the environment.
Only what can be measured can be managed. This is why impact measurement and active impact management underpin our management approach for identifying the structural trends of the transition to a sustainable development model and the companies which are best positioned to translate these transformations into investment opportunities.
IMPact is convinced that it is urgent to reimagine capitalism through investment strategies intended to finance the transition to an economic development model that is more socially equitable and compatible with the ecological limits of our planet.
Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Brundtland Commission - 1987
The entry into the Banca Etica Group
As of February 2026, IMPact SGR has become part of the Banca Etica Group, the leading Italian banking group dedicated to ethical finance. The entry into the Group, with Banca Etica acquiring 70% of the capital, is a strategic milestone in the company’s growth path and strengthens our ability to offer increasingly comprehensive and integrated ethical asset management and impact finance solutions.
Within this ecosystem, IMPact SGR will take over the management of the funds of Etica Sgr, the asset management company of the Banca Etica Group, which only offers ethical mutual funds. Companies involved in controversial sectors – e.g., armaments, fossil fuels (e.g., oil and coal), tobacco, gambling – and States which do not respect freedom of the press, civil rights or provide for the death penalty are excluded from the portfolios of Etica Sgr’s funds. Issuer selection is then made on the basis of an accurate ESG (environmental, social and governance) accountability analysis.
The integration of IMPact SGR into the Banca Etica Group will contribute to building a distinctive model that integrates banking and asset management and is entirely geared towards pursuing positive social and environmental impacts by combining accountability and long-term value creation.
Our track record
The management team of IMPact SGR combines decades of financial markets experience and an innovative approach to impact investing, integrating rigorous financial analysis and social and environmental impact measurement. Our expertise is based on proprietary decision-making processes supported by quantitative and qualitative models, which drive securities selection and portfolio construction, always with a balanced focus among risk, return and impact.
The management team is led by co-founders Fausto Artoni, Stefano Mach and Gherardo Spinola – managers with a well-established career in equity and flexible funds. Their decades of experience are the core of IMPact’s management know-how. Thanks to this expertise, we can develop investment solutions with a consistent track record, geared towards generating sustainable value over the long term.
The vision for the future
Consolidating our position within the Banca Etica Group will allow us to accelerate the adoption of sustainable investment solutions, to expand the range of available products, and to more effectively respond to the needs of institutional and private clients who wish to invest responsibly and with a long-term vision, making a tangible contribution to building a more equitable, resilient, and sustainable future for all.
Listed impact investing
Impact investments are investments made with the intention to generate positive, measurable environmental and social impact alongside a financial return.
Over the course of its management experience, IMPact has made the integration between financial and impact performance the core of its management approach. In practice, this means going beyond the traditional two-dimensional investment process – centred around risk-return profile optimisation – to embrace a three-dimensional approach where impact becomes the third key dimension in portfolio construction and management.
IMPact intends to promote and accelerate the systematic adoption of listed impact investing strategies in asset management, bringing proprietary methodologies and a rigorous approach which combines financial analysis with impact performance measurement and active impact performance management.
Intentionality of impact
IMPact selects the companies in its portfolio based not only on their financial fundamentals, but also on their tangible contribution to the resolution of major social and environmental challenges, starting with the transition to a sustainable development model.
Measurability of impact
IMPact integrates impact measurement in its investment decision-making processes through quantitative and qualitative metrics, rating the contribution made by each security in the portfolio to the achievement of the impact targets laid down in investment policies..
Active impact management
IMPact continuously monitors impact evolution and adapts its strategies with the objective of optimising the risk-return-impact profile of managed products, maximising the value created for investors, society, and the environment.