Investment advisory


Mediobanca Private Banking offers an extensive catalogue of funds and financial products that promote environmental, social and governance characteristics and pursue sustainable objectives.
In general, the more management policies of financial products take environmental, social and governance factors into consideration in their investment choices and processes, the lower the sustainability risk associated with those financial products.
Therefore, the impact of sustainability risk on a product’s returns depends on the investment policies adopted by manufacturers regarding the integration of ESG factors into investment choices. Manufacturers should disclose this information in the pre‐contractual information for each financial product, as required by the sector regulations.

In particular, in accordance with the European regulatory framework referring to the integration of ESG factors in the assessment of adequacy of transactions, the Bank's model for the provision of the investment advisory service (covering, among other products, portfolio management on an individual basis) includes safeguards aimed at collecting and considering the sustainability preferences of clients, in compliance with the regulations in force from time to time.

The consideration of sustainability preferences within the advisory service remains subordinate and will be activated only after the investment houses and info-providers used have made available to the Bank the data and information related to individual financial products/instruments necessary for carrying out the assessment of suitability with respect to clients' sustainability preferences.

In addition, the Private Banking Division may use model portfolios and defined Top Recommendation lists produced by type of instrument (UCITS, other financial instruments, etc.) and/or by investment theme. The selection of these instruments is carried out by applying specific criteria (positive and/or negative screening) aimed at taking into account ESG factors and sustainability risk.

In this context, the application of specific criteria (negative screening) is aimed at excluding from the scope of Top Recommendation lists, equity and bond instruments issued by companies directly and significantly related to the production and/or marketing of weapons (such as cluster and fragmentation bombs, bombs containing depleted uranium, anti-personnel landmines, nuclear weapons, chemical and bacteriological weapons), which violate humanitarian principles.