Details
Fees
Investment objectives
Hearth Ethical Fund is a balanced (up to 70% equity and up to 70% bond) ethical and sustainable fund that invests only in instruments from developed markets that meet the most stringent sustainability criteria. The fund has earned 5 Globes, the highest score for Morningstar Sustainability Rating. The cardinal principles of sustainable investment are declined as follows: exclusion of companies involved in activities contrary to the principles adopted by the ESG Committee (13 economic activities including arms, oil, tobacco, etc.) and selection of best-in-class companies according to ESG criteria, positively aligned the UN Sustainable Development Goals and emission reduction, in line with the Paris 2015 agreements. In addition, stewardship activities are carried out, which include active participation in shareholders’ meeting votes of portfolio companies and promotion of engagement initiatives to improve corporate practices on relevant sustainability issues.
Morningstar Sustainability Rating
Nummus Certification
Risk and return profile
Comment
Equity markets recorded further declines in April. Global equities were hit by the ongoing war in Ukraine, lockdowns in China, ongoing supply chain disruptions and expectations that US interest rates could rise rapidly. Economic data showed signs of weakening as inflationary pressures continued to push the Fed into a more aggressive path of rate hikes. Eurozone annual inflation reached 7.5% in April.
Sovereign bond yields have peaked in developed markets. Corporate bonds underperformed government bonds. High yield has seen the most significant spread widening, although spreads are below the highs recorded earlier this year. Emerging market bonds also posted negative returns, notably sovereign debt, while corporate credit was more resilient.
The fund did not open or increase any exposure to bonds but closed or reduced the exposure in Australia, Banco BPM Spa and Poland.
Performance
Dati aggiornati al:
Allocation
How to invest
As an Italian Private Investor, in order to invest in the Valori funds, you need to contact the Authorized Distributors for distribution in Italy.
Download the PDF with the list of Authorized Distributors.
Swiss Retail Investors
In order to subscribe to the Fund you will need to contact your Banking Institution, communicating the ISIN of interest.
European Institutional Investors
As a European Institutional Investor, in order to subscribe to the Fund you can:
- Contact a Transfer Agent, by completing and faxing the subscription form provided by him/her
- Contact one of the following Intermediaries:
– All Funds Bank
Swiss Institutional Investors
As a Swiss Institutional Investor, in order to subscribe to the Fund you will need to contact your Banking Institution, communicating the ISIN of interest.
