# SFDR Pre-contractual disclosure
For each Sub-Fund that has (E) environmental and (S) social characteristics and promotes investment into assets which follow good governance (G) practices in accordance with articles 8 and 9 of the Sustainable Finance Disclosure
Regulation (“SFDR”), this part of the Prospectus gathers the pre-contractual information set out according to the template provided in the SFDR regulatory technical standards.
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Absolute Active Legal entity identifier: 549300DW76EURSOWNE42

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 10.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in equities and in corporate and government bonds denominated in any currency that are investment grade. These investments may be from anywhere in the world and some may be below investment grade. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 10% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 10% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 10% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Absolute Green Bonds Legal entity identifier: 54930037WL2JEAS2P906

##### Sustainable investment objective
| Does this financial product have a sustainable investment objective? ••	🗵	 Yes	 • o	 U	 No |
| --- |
| 🗵 | It will make a minimum of sustainable investments with an environmental objective: 75.00% | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | 🗵	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective 0.00% | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What is the sustainable investment objective of this financial product?
The sustainable investment objective of this financial product is to achieve a positive return regardless of market conditions (absolute return), while seeking to achieve a positive environmental impact.
The sustainable investment objective is attained by investing no less than 75% of the portfolio in green bonds.
The fund mainly invests, either directly or through derivatives, in corporate or government bonds that are issued to finance climate- and environment-friendly projects such as renewable energy, energy efficiency, pollution prevention, clean transportation, water management, circular economy, biodiversity conservation and green construction (green bonds).
Specifically, the fund normally invests at least 75% of total net assets in debt and debt-related instruments, including money market instruments that are issued to finance climate- and environment-friendly projects.
In particular, the security selection process uses a due diligence programme that aligns with Green Bond Principles (GBP) as defined by the International Capital Market Association (ICMA) and the developing EU Green Bond Standard framework (GBS). The project underlying the green issue is subject to an in-depth analysis with objective and subjective assessments. The analysis process involves (i) an objective analysis of the purpose of the financed projects and (ii) a subjective assessment of the projects management methods, the organizational structure of the issuer, the environmental footprint, with particular attention to transparency and the quality of reporting.
The monitoring of fund’s sustainable investment objective is carried out by verifying the limits set by its investment policy both during the preparation of orders (so-called ex-ante control) and during the valuation of portfolios (so-called ex-post control).
The minimum proportion of the fund’s sustainable investments is calculated as the weighted average of green bonds in portfolio.
However, the fund does not invest in economic activities that qualify as environmentally sustainable under the EU Taxonomy.
Sustainability indicators measure how the sustainable objectives of this financial product are attained.
- What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?

The following sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI infoproviders.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.
Impact investing: weight in the fund of the corporate bonds or government securities exclusively issued for financing climate- and environment-friendly projects such as renewable energy, energy efficiency, pollution prevention, clean transportation, water management, circular economy, biodiversity conservation and green construction (green bonds or other similar instruments such as social bonds and sustainable bonds).
- How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- 	Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons);
- Share of consumption of non-renewable energy: consumption by the investee companies of energy from non-renewable sources compared to renewable sources (such as for example, hydropower, wind, solar or geothermal energy,…) expressed as a percentage of the total energy of any sources used;
- Share of production of non-renewable energy: production by the investee companies of energy from non-renewable sources compared to renewable sources (such as for example, hydropower, wind, solar or geothermal energy,…) expressed as a percentage of the total energy of any sources produced.

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elswhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in aspecific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund has a sustainable investment objective to normally invest at least 75% of total net assets in debt and debt-related instruments, including money market instruments that are issued to finance climate- and environment-friendly projects (“Green Bonds”). The remaining part of the fund’s assets may be invested in other assets that are not necessarily considered sustainable.
The fund seeks to achieve a measurable and positive social or environmental impact alongside a financial return. The fund excludes issuers that do not follow good governance practices.
In addition, the analysis of ESG factors is a qualifying element of the fund's strategy. The fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. The exclusion of the thermal coal sector and oil sands sector is not applicable in the case of green bond issues, aimed at financing the energy transition and combating global warming.
In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
There is no minimum proportion of investments aligned with any specific environmental objective or activity, therefore the minimum share of sustainable investments contributing to environmental objectives under the EU Taxonomy is 0%.
- What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?

The binding elements of the investment strategy used to select the investments to attain the sustainable investment objective of the fund are:
- to normally invest at least 75% of total net assets in debt and debt-related instruments, including money market instruments that are issued to finance climate- and environment-friendly projects (“Green Bonds”);
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not "socially and environmentally responsible". The exclusion of the thermal coal sector and oil sands sector is not applicable in the case of green bond issues, aimed at financing the energy transition and combating global warming;
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”).

Good governance practices include sound management structures, employee
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices. Issuers are individualized between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".

relations, remuneration of staff and tax compliance.
Monitoring activity of the corporate issuers that do not respect good governance practices occurs through specific exclusions allowing both an ex-ante control at the time of the order pre-placement phase and an ex-post control at the time of the portfolio valorisation.

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The fund has a sustainable investment objective and invests at least 75% of its total net assets in sustainable investments (#1 Sustainable).
Environmentally sustainable investments represent at least 75% of its total net assets. No minimum investment limit is foreseen for socially sustainable investments.
The fund may invest up to 25% of its net assets in other assets that are not necessarily considered sustainable (#2 Not sustainable). However "#2 Not sustainable" investments do not prevent the attainment of the sustainable investment objective. Given the nature of these investments, minimum environmental or social safeguards are not applicable.
The following investments are included under "#2 Not sustainable": (i) any other assets according to the fund's investment policy, (ii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets, (iii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure according to its investment policy and its sustainable investment objective; (iv) instruments and techniques only used for efficient fund management as detailed in the fund's prospectus.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
- How does the use of derivatives attain the sustainable investment objective?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure according to its investment policy and its sustainable investment objective.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
There is no minimum proportion of investments aligned with any specific environmental objective or activity, therefore the minimum share of sustainable investments contributing to environmental objectives under the EU Taxonomy is 0%.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
include comprehensive safety and waste management rules.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

No minimum investment limit is foreseen as regards investments in transitional and enabling activities.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund has a sustainable investment objective and environmentally sustainable investments represent at least 75% of its total net assets.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
What is the minimum share of sustainable investments with a social objective?
Not Applicable. No minimum investment limit is forseen for socially sustainable investments.
What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The fund has a sustainable investment objective and invests at least 75% of its total net assets in sustainable investments.
Environmentally sustainable investments represent at least 75% of its total net assets.
The following investments are included under "#2 Not sustainable": (i) any other assets according to the fund's investment policy, (ii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets, (iii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure according to its investment policy and its sustainable investment objective; (iv) instruments and techniques only used for efficient fund management as detailed in the fund's prospectus.
However "#2 Not sustainable” investments do not prevent the attainment of the sustainable investment objective. Given the nature of these investments, minimum environmental or social safeguards are not applicable.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
Reference benchmarks are indexes to measure whether the financial product attains the sustainable investment objective.
- How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Absolute High Yield Legal entity identifier: 549300DH1CKJGW3MUW81

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in short- and medium-term corporate bonds of any credit rating that are denominated in, or hedged to, euro. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate
governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 20% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 20% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 20% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Absolute Prudent Legal entity identifier: 549300218827MPVDYO63

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 10.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in government and corporate bonds denominated in any currency and, to a lesser extent, in equities. The fund may invest significantly in below investment grade bonds. These investments may be from anywhere in the world. Specifically, the fund normally invests at least 51% of total net assets in debt and debt-related instruments, including convertible bonds, covered bonds and money market instruments. Some of these investments may be below investment grade. Net equity exposure may range between 20% and -20% of total net assets. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 10% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 10% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 10% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Absolute Return Solution Legal entity identifier: 549300TTPCTVI8G4LP50

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019//2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in equities and in government and corporate bonds. These investments may be from anywhere in the world, including China, Russia and other emerging markets, and some may be below investment grade. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands.. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Active Allocation Legal entity identifier: 54930048XIABWU68BF17

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 5.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in equities and corporate and government bonds denominated in any currency, and in currencies themselves. These investments may be from anywhere in the world, including emerging markets, and some of them may be below investment grade. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 5% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 5% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 5% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Asian Equity Opportunities Legal entity identifier: 549300FTPG064FH2CT76

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities from developed and emerging Asian markets, excluding Japan. The fund may invest across any sector and market capitalisation. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least 80% of investments in all asset classes.
Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate
governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 80% of its investments in all asset classes
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned
- Non Taxonomy- aligned
- Taxonomy-aligned
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Azioni Strategia Flessibile Legal entity identifier: 549300CWOONLZGXV6352

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 25.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Carbon footprint: the fund also aims to build a portfolio with a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its investment universe. The carbon intensity expresses the carbon efficiency of the fund’s portfolio, and of its investment universe, by measuring the volume of carbon emissions (in absolute tons of CO2) per dollar of sales generated by corporate issuers.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies. Carbon footprint: direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) carbon dioxide emissions (CO2) generated by the investee issuers expressed as weighted average of the CO2 intensity (with respect to their generated sales) per the weight of each corporate issuer in portfolio.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests, either directly or through derivatives, in European and US equities. The fund may also invest significantly in government and corporate bonds and money market instruments. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
as investment objectives and risk tolerance.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
The fund also integrates in its portfolio building process assessments regarding the measurement of the intensity of the direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) emissions of carbon dioxide (CO2) generated by corporate issuers (per sales generated) aiming at obtaining a lower carbon footprint than that of its investment universe.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 25% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the pursuit of a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 25% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 25% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Aggregate EUR Legal entity identifier: 549300YLU5Z1JQP8CC18

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 15.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in a wide range of investment grade corporate and government bonds. These investments are mainly denominated in euro and may be from anywhere in the world, including emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 15% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 15% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 15% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 50% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Aggregate EUR Short Term
Legal entity identifier: 54930067LEBURNSDNL83

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 10.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in a wide range of short-term investment grade corporate and government bonds. These investments are mainly denominated in euro and may be from anywhere in the world, including China and other emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 10% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 10% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 10% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 50% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Corporate EUR Legal entity identifier: 5493008XGFSGYJTP7781

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies. Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s
"Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in corporate bonds denominated in euro. These investments may be below investment grade. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Corporate EUR Short Term
Legal entity identifier: 549300GXZQ1AUR953E73

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 25.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in short-term corporate bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 25% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 25% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 25% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Corporate Smart ESG Legal entity identifier: 549300TTFGY6KESMTQ72

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in corporate bonds denominated in euro and may invest significantly in below investment grade bonds. These investments may be from anywhere in the world, including emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Emerging Markets Legal entity identifier: 549300BZGW07V7D5VL89

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government and corporate bonds issued in emerging markets, including China and Russia, and denominated in US dollar or another hard currency. These investments may be below investment grade and some of them may be highly speculative. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Emerging Markets in Local Currencies ESG
Legal entity identifier: 549300IX3GUWKBG5M588

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

The fund promotes environmental and social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019//2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds and money market instruments issued in emerging markets, including China and Russia, and denominated in any local currency. These investments may be below investment grade and some of them may be highly speculative. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the
fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments
within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond EUR 1-10 y LTE Legal entity identifier: 5493001YWISLPEWBPS61

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond EUR All Maturities LTE
Legal entity identifier: 549300XLYE9ECP2TRS22

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond EUR Long Term LTE Legal entity identifier: 549300B22R97K38OCC37

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoprovidersSovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond EUR Medium Term LTE
Legal entity identifier: 549300WU9J3CMUBCG706

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond EUR Short Term LTE Legal entity identifier: 549300N1TOHD2XCCBD19

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Euro High Yield Legal entity identifier: 549300W6NNREWAW7SI05

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 10.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 10% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 10% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 10% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Flexible Legal entity identifier: 549300ZWVJDYNGILI089

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019//2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund invests, either directly or through derivatives, in corporate and government bonds and money market instruments denominated in any currency, and in currencies themselves. These investments may be below investment grade and from anywhere in the world, including China and other emerging markets. The fund may invest significantly in Italian government bonds of any credit rating. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond High Yield Legal entity identifier: 549300IIT8NGJSNR7136

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 10.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in below investment grade corporate bonds denominated in any currency from issuers that are located, or do most of their business, in Europe. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 10% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 10% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 10% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Inflation Linked Legal entity identifier: 549300EEAY5G5AB99Z67

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019//2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in inflation-linked government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Bond Short Term EUR T1 Legal entity identifier: 5493002Y47FE0FT5L004

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in investment grade government bonds denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Cash EUR
Legal entity identifier: 549300975OYOJEEVKD28

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: The fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spillovers with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI infoproviders.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.
Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on
(i) the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spillovers with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in investment grade short-term bonds. These investments are mainly denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spillovers with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spillovers with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investmentsEnabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - China Opportunity Legal entity identifier: 5493005OR8IMCNJO7V88

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in Chinese corporate and government bonds and money market instruments denominated in onshore or offshore renminbi. These investments may be below investment grade and some of them may be highly speculative. The fund may also invest significantly in Chinese equities. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least 80% of investments in all asset classes.
Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 80% of its investments in all asset classes
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Conservative Allocation Legal entity identifier: 549300C7CW2DWMIHKN76

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 15.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in European and US equities and corporate and government bonds denominated in any currency, and in currencies themselves. These investments may be from anywhere in the world, including emerging markets, and some of them may be below investment grade. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 15% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 15% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 15% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity China A Legal entity identifier: 549300IQSMKIXHBFRJ95

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 5.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are traded in China and denominated in onshore or offshore renminbi. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 5% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 5% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 5% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity China Smart Volatility
Legal entity identifier: 549300EKF9MDX2ZN6X42

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 15.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests in Chinese equities listed in Hong Kong. To a small extent, the fund may also invest in equities listed in China. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
as investment objectives and risk tolerance.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 15% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 15% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 15% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 15% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Circular Economy Legal entity identifier: 549300CIDSVFR55QNS56

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 50.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Carbon footprint: the fund also aims to build a portfolio with a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark. The carbon intensity expresses the carbon efficiency of the fund’s portfolio, and of its benchmark, by measuring the volume of carbon emissions (in absolute tons of CO2) per dollar of sales generated by corporate issuers.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies. Carbon footprint: direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) carbon dioxide emissions (CO2) generated by the investee issuers expressed as weighted average of the CO2 intensity (with respect to their generated sales) per the weight of each corporate issuer in portfolio.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests in equities of companies that participate in the transition to a circular economy through processes such as product recycling, waste reduction, product life extension and renewable resources. These companies may be from anywhere in the world, including emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
as investment objectives and risk tolerance.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
The fund also integrates in its portfolio building process assessments regarding the measurement of the intensity of the direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) emissions of carbon dioxide (CO2) generated by corporate issuers (per sales generated) aiming at obtaining a lower carbon footprint than that of its benchmark.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 50% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the pursuit of a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 50% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 50% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Emerging Markets Legal entity identifier: 5493009TA3BCQ5UYZM58

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in emerging market equities. The fund may invest across any market capitalisation. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Emerging Markets LTE
Legal entity identifier: 5493004QBZF8XSVG1E67

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises: presence of investments in investee companies that have been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises ;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by mid and large capitalisation companies in the Asia Pacific region, excluding Japan. Some of these investments may be from China. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI Emerging Markets ESG Universal Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI Emerging Markets ESG Universal Index is based on the MSCI Emerging Markets Index, its parent index, and includes large and mid-cap securities across 25 Emerging Markets (EM) countries*. The index is designed to reflect the performance of an investment strategy that, by tilting away from free-float market cap weights, seeks to gain exposure to those companies demonstrating both a robust ESG profile as well as a positive trend in improving that profile, using minimal exclusions from the MSCI Emerging Markets index.
* EM countries include: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-universal-indexes).

The MSCI Emerging Markets ESG Universal belongs to the family of MSCI ESG Universal Indexes. The MSCI ESG Universal Indexes are constructed in following steps:
- First, the stocks with the weakest ESG profile from the Parent Index are excluded.
- Second, ESG re-weighting factor is defined that reflects an assessment of both the current ESG profile (based on the current MSCI ESG Rating) as well as the trend in that profile (based on the MSCI ESG Rating Trend).
- Finally, the securities are re-weighted from the free-float market cap weights of the Parent Index using the combined ESG score to construct the MSCI ESG Universal Index.

The MSCI ESG Universal Indexes exclude only companies found to be in violation of international norms (for example, facing very severe controversies related to human rights, labour rights or the environment) and companies involved in controversial weapons (landmines, cluster munitions, depleted uranium, and biological and chemical weapons).
The index is reviewed in February, May, August and November, coinciding with the quarterly and semi-annually index reviews of MSCI Global Investable Market Indexes.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Emerging Markets Smart Volatility
Legal entity identifier: 54930083ZR757M6P6736

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests in emerging market equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
as investment objectives and risk tolerance.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Euro LTE Legal entity identifier: 549300SECH6KW34PHG41

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 45.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises: presence of investments in investee companies that have been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises ;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by mid and large capitalisation companies in the European Economic and Monetary Union (EMU). The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 45% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 45% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 45% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI EMU ESG Universal Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI EMU ESG Universal Index is based on the MSCI EMU Index, its parent index, and includes large and mid-cap securities across 10 Developed Markets (DM) in the EMU*. The index is designed to reflect the performance of an investment strategy that, by tilting away from free-float market cap weights, seeks to gain exposure to those companies demonstrating both a robust ESG profile as well as a positive trend in improving that profile, using minimal exclusions from the MSCI EMU index.
*DM countries in the EMU include: Austria, Belgium, Finland, France, Germany, Ireland, Italy, the Netherlands, Portugal and Spain.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-universal-indexes).

The MSCI EMU ESG Universal belongs to the family of MSCI ESG Universal Indexes. The MSCI ESG Universal Indexes are constructed in following steps:
- First, the stocks with the weakest ESG profile from the Parent Index are excluded.
- Second, ESG re-weighting factor is defined that reflects an assessment of both the current ESG profile (based on the current MSCI ESG Rating) as well as the trend in that profile (based on the MSCI ESG Rating Trend).
- Finally, the securities are re-weighted from the free-float market cap weights of the Parent Index using the combined ESG score to construct the MSCI ESG Universal Index.

The MSCI ESG Universal Indexes exclude only companies found to be in violation of international norms (for example, facing very severe controversies related to human rights, labour rights or the environment) and companies involved in controversial weapons (landmines, cluster munitions, depleted uranium, and biological and chemical weapons).
The index is reviewed in February, May, August and November, coinciding with the quarterly and semi-annually index reviews of MSCI Global Investable Market Indexes.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Europe ESG Leaders LTE
Legal entity identifier: 549300E64AGBXLYP7B83

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 45.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund will take exposure (for at least 90% of its net assets) to companies that have the highest environmental, social and governance (ESG) rated performance in each sector.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by European mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash).
In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 45% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 45% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
The fund will have a minimum proportion of 45% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI Europe ESG Leaders Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI Europe ESG Leaders Index is based on MSCI Europe Index.
The MSCI Europe ESG Index is a capitalization weighted index that provides exposure to companies with high Environmental, Social and Governance (ESG) performance relative to their sector peers. MSCI Europe ESG Leaders Index consists of large and mid cap companies in 15 developed markets countries*. The Index is designed
for investors seeking a broad, diversified sustainability benchmark with relatively low tracking error to the underlying equity market. The index is a member of the MSCI ESG Leaders Index series. Constituent selection is based on data from MSCI ESG Research.
*Developed Markets countries in Europe include: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-leaders-indexes).

The MSCI Europe ESG Leaders belongs to the family of MSCI ESG Leaders Indexes.
The MSCI ESG Leaders Indexes are constructed by applying a Best-in-Class selection process to companies in the regional indexes that make up MSCI ACWI, a global equity index consisting of developed and emerging market countries. The ESG Leaders Indexes target sector and region weights consistent with those of the underlying indexes to limit the systematic risk introduced by the ESG selection process.
The methodology aims to include securities of companies with the highest ESG ratings representing 50% of the market capitalization in each sector and region of the parent Index. Companies that are not existing constituents of the ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and the MSCI ESG Controversies Score of 3 or above to be eligible. Current constituents of the MSCI ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and an MSCI ESG Controversies Score of 1 or above to be eligible. In addition, companies showing qualifying involvement in alcohol, gambling, tobacco, nuclear power, civilian firearms, fossil fuels extraction, thermal coal power and weapons are excluded from the Indexes.
The selection universe for The ESG Leaders Indexes is the constituents of the MSCI Global Investable Market Indexes.
The Index is float-adjusted market capitalization weighted.
The Annual Review of the MSCI ESG Leaders Indexes takes place in May, and they are rebalanced in August, November and February.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Europe ESG LTE Legal entity identifier: 549300JIJPEYMO2VI624

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by European mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Europe LTE Legal entity identifier: 549300NIVJZIDZQHY759

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises: presence of investments in investee companies that have been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises ;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by European mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI Europe ESG Universal Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI Europe ESG Universal Index is based on the MSCI Europe Index, its parent index, and includes large and mid-cap securities across 15 Developed Markets (DM) in Europe*. The index is designed to reflect the performance of an investment strategy that, by tilting away from free-float market cap weights, seeks to gain exposure to those companies demonstrating both a robust ESG profile as well as a positive trend in improving that profile, using minimal exclusions from the MSCI Europe index.
* DM countries include: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-universal-indexes).

The MSCI Europe ESG Universal belongs to the family of MSCI ESG Universal Indexes. The MSCI ESG Universal Indexes are constructed in following steps:
- First, the stocks with the weakest ESG profile from the Parent Index are excluded.
- Second, ESG re-weighting factor is defined that reflects an assessment of both the current ESG profile (based on the current MSCI ESG Rating) as well as the trend in that profile (based on the MSCI ESG Rating Trend).
- Finally, the securities are re-weighted from the free-float market cap weights of the Parent Index using the combined ESG score to construct the MSCI ESG Universal Index.

The MSCI ESG Universal Indexes exclude only companies found to be in violation of international norms (for example, facing very severe controversies related to human rights, labour rights or the environment) and companies involved in controversial weapons (landmines, cluster munitions, depleted uranium, and biological and chemical weapons).
The index is reviewed in February, May, August and November, coinciding with the quarterly and semi-annually index reviews of MSCI Global Investable Market Indexes.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity High Dividend Legal entity identifier: 54930019VNMHY4HB4P36

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities from developed markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 20% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 20% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 20% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Innovation Legal entity identifier: 549300XJ1BMSX5305U71

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities of companies that may benefit from long-term innovation trends such as communication technology, artificial intelligence, robotics, e-commerce and cybersecurity. These companies may be from anywhere in the world, including emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Italy Smart Volatility Legal entity identifier: 549300JK0IG60Q0S6R15

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 45.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in Italian equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 45% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 45% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 45% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Japan LTE Legal entity identifier: 5493003BMWBFAV1F1H65

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises: presence of investments in investee companies that have been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises ;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by Japanese mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI Japan ESG Universal Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI Japan ESG Universal Index is based on the MSCI Japan Index, its parent index, and includes large and mid-cap securities of the Japanese equity markets. The index is designed to reflect the performance of an investment strategy that, by tilting away from free-float market cap weights, seeks to gain exposure to those companies demonstrating both a robust ESG profile as well as a positive trend in improving that profile, using minimal exclusions from the MSCI Japan Index.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-universal-indexes).

The MSCI Japan ESG Universal belongs to the family of MSCI ESG Universal Indexes. The MSCI ESG Universal Indexes are constructed in following steps:
- First, the stocks with the weakest ESG profile from the Parent Index are excluded.
- Second, ESG re-weighting factor is defined that reflects an assessment of both the current ESG profile (based on the current MSCI ESG Rating) as well as the trend in that profile (based on the MSCI ESG Rating Trend).
- Finally, the securities are re-weighted from the free-float market cap weights of the Parent Index using the combined ESG score to construct the MSCI ESG Universal Index.

The MSCI ESG Universal Indexes exclude only companies found to be in violation of international norms (for example, facing very severe controversies related to human rights, labour rights or the environment) and companies involved in controversial weapons (landmines, cluster munitions, depleted uranium, and biological and chemical weapons).
The index is reviewed in February, May, August and November, coinciding with the quarterly and semi-annually index reviews of MSCI Global Investable Market Indexes.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity North America LTE Legal entity identifier: 549300VRUVDGNC6X5K46

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 25.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises: presence of investments in investee companies that have been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises ;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by US and Canadian mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 25% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 25% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 25% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI North America ESG Universal Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI North America ESG Universal Index is based on the MSCI North America Index, its parent index, and includes large and mid-cap securities of the US and Canada markets. The index is designed to reflect the performance of an investment strategy that, by tilting away from free-float market cap weights, seeks to gain exposure to those companies demonstrating both a robust ESG profile as well as a positive trend in improving that profile, using minimal exclusions from the MSCI North America Index.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-universal-indexes).

The MSCI North America ESG Universal belongs to the family of MSCI ESG Universal Indexes. The MSCI ESG Universal Indexes are constructed in following steps:
- First, the stocks with the weakest ESG profile from the Parent Index are excluded.
- Second, ESG re-weighting factor is defined that reflects an assessment of both the current ESG profile (based on the current MSCI ESG Rating) as well as the trend in that profile (based on the MSCI ESG Rating Trend).
- Finally, the securities are re-weighted from the free-float market cap weights of the Parent Index using the combined ESG score to construct the MSCI ESG Universal Index.

The MSCI ESG Universal Indexes exclude only companies found to be in violation of international norms (for example, facing very severe controversies related to human rights, labour rights or the environment) and companies involved in controversial weapons (landmines, cluster munitions, depleted uranium, and biological and chemical weapons).
The index is reviewed in February, May, August and November, coinciding with the quarterly and semi-annually index reviews of MSCI Global Investable Market Indexes.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Pacific ex-Japan LTE Legal entity identifier: 5493006CRPNDSRR2QJ89

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders. ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises: presence of investments in investee companies that have been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises ;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by mid and large capitalisation companies in the Asia Pacific region, excluding Japan. Some of these investments may be from China. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI Pacific ex Japan ESG Universal Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI Pacific ex Japan ESG Universal Index is based on the MSCI Pacific ex Japan Index, its parent index, and includes large and mid-cap companies across 4 of 5 developed markets countries in the Pacific region (excluding Japan)*. The index is designed to reflect the performance of an investment strategy that, by tilting away from free-float market cap weights, seeks to gain exposure to those companies demonstrating both a robust ESG profile as well as a positive trend in improving that profile, using minimal exclusions from the MSCI Pacific ex Japan Index.
*DM countries in the MSCI Pacific ex Japan Index include: Australia, Hong Kong, New Zealand and Singapore.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-universal-indexes).

The MSCI Pacific ex Japan ESG Universal belongs to the family of MSCI ESG Universal Indexes. The MSCI ESG Universal Indexes are constructed in following steps:
- First, the stocks with the weakest ESG profile from the Parent Index are excluded.
- Second, ESG re-weighting factor is defined that reflects an assessment of both the current ESG profile (based on the current MSCI ESG Rating) as well as the trend in that profile (based on the MSCI ESG Rating Trend).
- Finally, the securities are re-weighted from the free-float market cap weights of the Parent Index using the combined ESG score to construct the MSCI ESG Universal Index.

The MSCI ESG Universal Indexes exclude only companies found to be in violation of international norms (for example, facing very severe controversies related to human rights, labour rights or the environment) and companies involved in controversial weapons (landmines, cluster munitions, depleted uranium, and biological and chemical weapons).
The index is reviewed in February, May, August and November, coinciding with the quarterly and semi-annually index reviews of MSCI Global Investable Market Indexes.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity People Legal entity identifier: 549300KTCY7ZH3LX6I58

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities of companies that may benefit from long-term global demographic and social trends such as ageing populations, obesity and younger generations’ lifestyle. These companies may be from anywhere in the world, including emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Planet Legal entity identifier: 549300IKPFWCH028ZQ26

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Carbon footprint: the fund also aims to build a portfolio with a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark. The carbon intensity expresses the carbon efficiency of the fund’s portfolio, and of its benchmark, by measuring the volume of carbon emissions (in absolute tons of CO2) per dollar of sales generated by corporate issuers.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies. Carbon footprint: direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) carbon dioxide emissions (CO2) generated by the investee issuers expressed as weighted average of the CO2 intensity (with respect to their generated sales) per the weight of each corporate issuer in portfolio.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities of companies that may benefit from long-term global trends to preserve the planet such as renewable energy, energy efficiency, sustainable food, waste management and pollution treatment. These companies may be from anywhere in the world, including emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
The fund also integrates in its portfolio building process assessments regarding the measurement of the intensity of the direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) emissions of carbon dioxide (CO2) generated by corporate issuers (per sales generated) aiming at obtaining a lower carbon footprint than that of its benchmark.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the pursuit of a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund – Equity Real Estate Legal entity identifier: 549300HZ88MZIPCKGJ29

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 50.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in REITs and equities of companies in real estate ownership, development and trading from anywhere in the world. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 50% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 50% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI
ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 50% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity Small Mid Cap Europe
Legal entity identifier: 549300Y48WIIWTP5Z179

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 50.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests in European small and mid capitalisation equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
as investment objectives and risk tolerance.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 50% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 50% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 50% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity USA Legal entity identifier: 549300N22TZ7NMD10A80

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in US equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 20% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 20% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 20% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity USA ESG Leaders LTE
Legal entity identifier: 549300GJB82FY5QSQF28

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 35.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund will take exposure (for at least 90% of its net assets) to companies that have the highest environmental, social and governance (ESG) rated performance in each sector.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-and-esg-engagement-polic
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by US mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash).
In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 35% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 35% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
The fund will have a minimum proportion of 35% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 35% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 35% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 35% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI USA ESG Leaders 10/40 Index.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI USA ESG Leaders 10/40 Index is based on MSCI USA Index.
The MSCI USA ESG Leaders 10/40 Index is a capitalization weighted index that provides exposure to companies with high Environmental, Social and Governance (ESG) performance relative to their sector peers. MSCI USA ESG Leaders 10/40 Index consists of large and mid cap companies in the US market. The Index is designed for
investors seeking a broad, diversified sustainability benchmark with relatively low tracking error to the underlying equity market. The index is a member of the MSCI ESG Leaders Index series. Constituent selection is based on data from MSCI ESG Research.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-leaders-indexes).

The MSCI USA ESG Leaders 10/40 belongs to the family of MSCI ESG Leaders Indexes.
The MSCI ESG Leaders Indexes are constructed by applying a Best-in-Class selection process to companies in the regional indexes that make up MSCI ACWI, a global equity index consisting of developed and emerging market countries. The ESG Leaders Indexes target sector and region weights consistent with those of the underlying indexes to limit the systematic risk introduced by the ESG selection process.
The methodology aims to include securities of companies with the highest ESG ratings representing 50% of the market capitalization in each sector and region of the parent Index. Companies that are not existing constituents of the ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and the MSCI ESG Controversies Score of 3 or above to be eligible. Current constituents of the MSCI ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and an MSCI ESG Controversies Score of 1 or above to be eligible. In addition, companies showing qualifying involvement in alcohol, gambling, tobacco, nuclear power, civilian firearms, fossil fuels extraction, thermal coal power and weapons are excluded from the Indexes.
The selection universe for The ESG Leaders Indexes is the constituents of the MSCI Global Investable Market Indexes.
The Index is float-adjusted market capitalization weighted.
The Annual Review of the MSCI ESG Leaders Indexes takes place in May, and they are rebalanced in August, November and February.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity USA ESG LTE Legal entity identifier: 549300UBJ1V4I7301S26

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 25.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by US mid and large capitalisation companies. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 25% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 25% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 25% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity World ESG Leaders LTE
Legal entity identifier: 549300IKJ33RCTJXWG19

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund will take exposure (for at least 90% of its net assets) to companies that have the highest environmental, social and governance (ESG) rated performance in each sector.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by mid and large capitalisation companies from developed markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash).
In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI World ESG Leaders Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI World ESG Leaders Index is based on MSCI World Index.
The MSCI World ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high Environmental, Social and Governance (ESG) performance relative to their sector peers. MSCI World ESG Leaders Index is constructed by aggregating the following regional Index MSCI Pacific ESG Leaders Index, MSCI Europe & Middle East ESG Leaders Index, MSCI Canada ESG Leaders Index and MSCI USA ESG Leaders Index. The parent index is MSCI World Index, which consists of large and mid-cap companies in 23 Developed Markets
Countries*. The Index is designed for investors seeking a broad, diversified sustainability benchmark with relatively low tracking error to the underlying equity market. The index is a member of the MSCI ESG Leaders Index series. Constituent selection is based on data from MSCI ESG Research.
* Developed Markets countries include: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the UK and the US.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-leaders-indexes).

The MSCI World ESG Leaders belongs to the family of MSCI ESG Leaders Indexes.
The MSCI ESG Leaders Indexes are constructed by applying a Best-in-Class selection process to companies in the regional indexes that make up MSCI ACWI, a global equity index consisting of developed and emerging market countries. The ESG Leaders Indexes target sector and region weights consistent with those of the underlying indexes to limit the systematic risk introduced by the ESG selection process.
The methodology aims to include securities of companies with the highest ESG ratings representing 50% of the market capitalization in each sector and region of the parent Index. Companies that are not existing constituents of the ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and the MSCI ESG Controversies Score of 3 or above to be eligible. Current constituents of the MSCI ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and an MSCI ESG Controversies Score of 1 or above to be eligible. In addition, companies showing qualifying involvement in alcohol, gambling, tobacco, nuclear power, civilian firearms, fossil fuels extraction, thermal coal power and weapons are excluded from the Indexes.
The selection universe for The ESG Leaders Indexes is the constituents of the MSCI Global Investable Market Indexes.
The Index is float-adjusted market capitalization weighted.
The Annual Review of the MSCI ESG Leaders Indexes takes place in May, and they are rebalanced in August, November and February.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity World Ex-Europe ESG Leaders LTE
Legal entity identifier: 549300Z4EQ1LJU9GE583

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Index integration: the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund will take exposure (for at least 90% of its net assets) to companies that have the highest environmental, social and governance (ESG) rated performance in each sector.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG Index integration: percentage of assets invested in issuers present in the benchmark.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities that are issued by mid and large capitalisation companies from developed markets, excluding Europe. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash).
In addition, the fund invests at least 90% of its assets in issuers present in its benchmark that has been identified on the basis of environmental, social and corporate governance criteria. Eurizon Capital S.A. integrates ESG criteria through the selection of benchmarks that consider environmental and/or social factors and that respect good governance practices (so- called "ESG benchmarks"). Eurizon Capital S.A. analyses the methodology used to calculate the index designated as the benchmark in order to (i) ensure alignment with respect to the environmental or social characteristics promoted by the product and the investment strategy and (ii) assess ESG integration criteria against relevant market indices.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash)
- the investment of at least 90% of its net assets in issuers present in its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 90% of the fund’s net assets (#1 Aligned with E/S characteristics).
The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund may use derivatives for taking exposure to its benchmark and therefore for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
The following specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes: 100% MSCI World Ex-Europe ESG Leaders Index..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

The reference benchmark is continuously aligned with each of the environmental or social characteristics promoted by the fund as according to its strategy the fund shall invest at least 90% of its assets in issuers present in the reference benchmark identified on the basis of environmental, social and corporate governance criteria.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Eurizon Capital S.A. has implemented specific measures of monitoring and control for ensuring that the fund continuously invests at least 90% of its assets in issuers present in the reference benchmark.
- How does the designated index differ from a relevant broad market index?

The MSCI World ex Europe ESG Leaders Index is based on MSCI World ex Europe Index.
The MSCI World ex Europe ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high Environmental, Social and Governance (ESG) performance relative to their sector peers. MSCI World ESG Leaders Index is constructed by aggregating the following regional Index MSCI Pacific ESG Leaders Index, MSCI Middle East ESG Leaders Index, MSCI Canada ESG Leaders Index and MSCI USA ESG Leaders Index. The parent index is MSCI World ex Europe Index, which captures large and mid cap representation across 8
of 23 Developed Markets (DM) countries*. The Index is designed for investors seeking a broad, diversified sustainability benchmark with relatively low tracking error to the underlying equity market. The index is a member of the MSCI ESG Leaders Index series. Constituent selection is based on data from MSCI ESG Research.
* Developed Markets countries include: Australia, Canada, Hong Kong, Israel, Japan, New Zealand, Singapore and the USA.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/msci-esg-leaders-indexes).

The MSCI World ex Europe ESG Leaders belongs to the family of MSCI ESG Leaders Indexes.
The MSCI ESG Leaders Indexes are constructed by applying a Best-in-Class selection process to companies in the regional indexes that make up MSCI ACWI, a global equity index consisting of developed and emerging market countries. The ESG Leaders Indexes target sector and region weights consistent with those of the underlying indexes to limit the systematic risk introduced by the ESG selection process.
The methodology aims to include securities of companies with the highest ESG ratings representing 50% of the market capitalization in each sector and region of the parent Index. Companies that are not existing constituents of the ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and the MSCI ESG Controversies Score of 3 or above to be eligible. Current constituents of the MSCI ESG Leaders Indexes must have an MSCI ESG Rating of 'BB' or above and an MSCI ESG Controversies Score of 1 or above to be eligible. In addition, companies showing qualifying involvement in alcohol, gambling, tobacco, nuclear power, civilian firearms, fossil fuels extraction, thermal coal power and weapons are excluded from the Indexes.
The selection universe for The ESG Leaders Indexes is the constituents of the MSCI Global Investable Market Indexes.
The Index is float-adjusted market capitalization weighted.
The Annual Review of the MSCI ESG Leaders Indexes takes place in May, and they are rebalanced in August, November and February.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Equity World Smart Volatility
Legal entity identifier: 549300KAINZSW5BOH873

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 35.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests in equities from developed markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
as investment objectives and risk tolerance.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 35% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 35% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 35% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 35% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 35% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 35% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Euro Emerging Markets Bonds
Legal entity identifier: 549300EDRIJ1XFVMWO67

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government and corporate bonds issued in emerging markets, including China and Russia, and denominated in euro. These investments may be below investment grade and some of them may be highly speculative.
The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - European Union Bonds Legal entity identifier: 549300366AJ31ILIC151

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 25.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in investment grade bonds issued by the EU to finance economic growth of its member states and other EU objectives. These investments are denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 25% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 25% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 25% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Flexible Allocation Legal entity identifier: 549300ZNIKXW5UPBGN63

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in equities, corporate and government bonds denominated in any currency and in currencies themselves. These investments may be below investment grade. These investments may be from anywhere in the world, including emerging markets. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Flexible Europe Strategy Legal entity identifier: 5493001D7WLFSLEQ8C47

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 25.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in European equities. The fund may also invest significantly in corporate and government bonds and money market instruments denominated in euro. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 25% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 25% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 25% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 25% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Flexible US Strategy Legal entity identifier: 549300HDQIRP844RBU87

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in US equities. The fund may also invest in corporate and government bonds and money market instruments denominated in US dollar. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 20% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least 90% of the fund’s total net assets or issuers in the portfolio (excluding any government debt securities and ancillary cash)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 20% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 20% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 20% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Allocation Legal entity identifier: 391200HBUS3W15N38785

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 10.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, in balanced proportion, in equities and in government and corporate bonds. These investments may be from anywhere in the world, including China and emerging markets. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 10% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 10% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI
ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 10% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 50% (expected) of the total investments**.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 10% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Bond Legal entity identifier: 549300I3DB2Q17WKTF05

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government and corporate bonds denominated in any currency. These investments are from anywhere in the world, including China, Russia and other emerging markets, and some of them may be below investment grade. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Bond Aggregate Legal entity identifier: 549300ZL4856S1B0G535

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government and corporate bonds denominated in any currency. These investments are from anywhere in the world, including China and other emerging markets, and some of them may be below investment grade. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 50% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Bond High Yield Legal entity identifier: 549300IH6TQN70XDXQ40

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in below investment grade bonds denominated in any currency. These investments are from anywhere in the world, including China and other emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Bond Inflation Linked
Legal entity identifier: 5493006NFNURN7C0Z680

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in inflation- linked government bonds denominated in any currency. These investments are from anywhere in the world, including China and other emerging markets, and some of them may be below investment grade. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Cautious Allocation Legal entity identifier: 391200PPGQHCZSODHP04

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 5.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in government and corporate bonds and, to a lesser extent, in equities. These investments may be from anywhere in the world, including China and emerging markets. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 5% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 5% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI
ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 5% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 20% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Equity Infrastructure Legal entity identifier: 549300SYG2YH766FGV02

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Carbon footprint: the fund also aims to build a portfolio with a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark. The carbon intensity expresses the carbon efficiency of the fund’s portfolio, and of its benchmark, by measuring the volume of carbon emissions (in absolute tons of CO2) per dollar of sales generated by corporate issuers.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies. Carbon footprint: direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) carbon dioxide emissions (CO2) generated by the investee issuers expressed as weighted average of the CO2 intensity (with respect to their generated sales) per the weight of each corporate issuer in portfolio.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in equities of companies whose activities are related to the infrastructure industry such as infrastructure ownership, management, construction, operation and utilisation, or that are financing such activities. These companies may be from anywhere in the world, including China and other emerging markets. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
The fund also integrates in its portfolio building process assessments regarding the measurement of the intensity of the direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) emissions of carbon dioxide (CO2) generated by corporate issuers (per sales generated) aiming at obtaining a lower carbon footprint than that of its benchmark.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the pursuit of a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Global Multi Credit Legal entity identifier: 5493001INX5MYSRJTV14

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 5.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in a wide range of corporate and government bonds denominated in any currency. The fund may invest significantly in below investment grade bonds. These investments are from anywhere in the world, including China, Russia and other emerging markets. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 5% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 5% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 5% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 5% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website: More product-specific information can be found on the website: https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Green Euro Credit Legal entity identifier: 549300X4GW71BE843C97

##### Sustainable investment objective
| Does this financial product have a sustainable investment objective? ••	🗵	 Yes	 • o	 U	 No |
| --- |
| 🗵 | It will make a minimum of sustainable investments with an environmental objective: 75.00% | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | 🗵	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What is the sustainable investment objective of this financial product?
The sustainable investment objective of this financial product is to outperform euro corporate green bond markets (as measured by the Bloomberg MSCI Euro Corporate Green Bond 5% Capped Index), while seeking to achieve a positive environmental impact.
The sustainable investment objective is attained by investing no less than 75% of the portfolio in green bonds.
The fund mainly invests in investment grade corporate bonds denominated in euro that are issued to finance climate and environment-friendly projects such as renewable energy, energy efficiency, pollution prevention, clean transportation, water management, circular economy, biodiversity conservation and green construction (green bonds). Specifically, the fund normally invests at least 75% of total net assets in investment grade debt and debt-related instruments, including money market instruments, issued to finance social-,climate- and environment-friendly projects.
In particular, the security selection process uses a due diligence programme that aligns with Green Bond Principles (GBP) as defined by the International Capital Market Association (ICMA) and the developing EU Green Bond Standard framework (GBS). The project underlying the green issue is subject to an in-depth analysis with objective and subjective assessments. The analysis process involves (i) an objective analysis of the purpose of the financed projects and (ii) a subjective assessment of the projects management methods, the organizational structure of the issuer, the environmental footprint, with particular attention to transparency and the quality of reporting.
The monitoring of fund’s sustainable investment objective is carried out by verifying the limits set by its investment policy both during the preparation of orders (so-called ex-ante control) and during the valuation of portfolios (so-called ex-post control).
The minimum proportion of the fund’s sustainable investments is calculated as the weighted average of green bonds in portfolio.
However, the fund does not invest in economic activities that qualify as environmentally sustainable under the EU Taxonomy.
Sustainability indicators measure how the sustainable objectives of this financial product are attained.
- What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?

The following sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI infoproviders.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.
Impact investing: weight in the fund of the corporate bonds or government securities exclusively issued for financing climate- and environment-friendly projects such as renewable energy, energy efficiency, pollution prevention, clean transportation, water management, circular economy, biodiversity conservation and green construction (green bonds or other similar instruments such as social bonds and sustainable bonds).
- How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- 	Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons);
- Share of consumption of non-renewable energy: consumption by the investee companies of energy from non-renewable sources compared to renewable sources (such as for example, hydropower, wind, solar or geothermal energy,…) expressed as a percentage of the total energy of any sources used;
- Share of production of non-renewable energy: production by the investee companies of energy from non-renewable sources compared to renewable sources (such as for example, hydropower, wind, solar or geothermal energy,…) expressed as a percentage of the total energy of any sources produced.

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elswhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in a specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund has a sustainable investment objective to normally invests at least 75% of total net assets in investment grade debt and debt-related instruments, including money market instruments, issued to finance social-,climate- and environment-friendly projects (“Green Bonds”). The remaining part of the fund’s assets may be invested in other assets that are not necessarily considered sustainable.
The fund seeks to achieve a measurable and positive social or environmental impact alongside a financial return. The fund excludes issuers that do not follow good governance practices.
In addition, the analysis of ESG factors is a qualifying element of the fund's strategy. The fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. The exclusion of the thermal coal sector and oil sands sector is not applicable in the case of green bond issues, aimed at financing the energy transition and combating global warming.
In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
There is no minimum proportion of investments aligned with any specific environmental objective or activity, therefore the minimum share of sustainable investments contributing to environmental objectives under the EU Taxonomy is 0%.
- What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?

The binding elements of the investment strategy used to select the investments to attain the sustainable investment objective of the fund are:
- to normally invest at least 75% of total net assets in investment grade debt and debt-related instruments, including money market instruments, issued to finance social-,climate- and environment-friendly projects (“Green Bonds”);
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not "socially and environmentally responsible". The exclusion of the thermal coal sector and oil sands sector is not applicable in the case of green bond issues, aimed at financing the energy transition and combating global warming;
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”).

Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices. Issuers are individualized between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".

Monitoring activity of the corporate issuers that do not respect good governance practices occurs through specific exclusions allowing both an ex-ante control at the time of the order pre-placement phase and an ex-post control at the time of the portfolio valorisation.

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The fund has a sustainable investment objective and invests at least 75% of its total net assets in sustainable investments (#1 Sustainable).
Environmentally sustainable investments represent at least 75% of its total net assets. No minimum investment limit is foreseen for socially sustainable investments.
The fund may invest up to 25% of its net assets in other assets that are not necessarily considered sustainable (#2 Not sustainable). However "#2 Not sustainable" investments do not prevent the attainment of the sustainable investment objective. Given the nature of these investments, minimum environmental or social safeguards are not applicable.
The following investments are included under "#2 Not sustainable": (i) any other assets according to the fund's investment policy, (ii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets, (iii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure according to its investment policy and its sustainable investment objective; (iv) instruments and techniques only used for efficient fund management as detailed in the fund's prospectus.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
- How does the use of derivatives attain the sustainable investment objective?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure according to its investment policy and its sustainable investment objective.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
There is no minimum proportion of investments aligned with any specific environmental objective or activity, therefore the minimum share of sustainable investments contributing to environmental objectives under the EU Taxonomy is 0%.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

No minimum investment limit is foreseen as regards investments in transitional and enabling activities.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund has a sustainable investment objective and environmentally sustainable investments represent at least 75% of its total net assets.
The fund might invest in activities that contribute to an environmental objective defined in the EU Taxonomy, but such investments are not per se decisive to the attainment of the fund’s sustainable investment objective.
What is the minimum share of sustainable investments with a social objective?
Not Applicable. No minimum investment limit is forseen for socially sustainable investments.
What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The fund has a sustainable investment objective and invests at least 75% of its total net assets in sustainable investments.
Environmentally sustainable investments represent at least 75% of its total net assets.
The following investments are included under "#2 Not sustainable": (i) any other assets according to the fund's investment policy, (ii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets, (iii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure according to its investment policy and its sustainable investment objective; (iv) instruments and techniques only used for efficient fund management as detailed in the fund's prospectus.
However "#2 Not sustainable” investments do not prevent the attainment of the sustainable investment objective. Given the nature of these investments, minimum environmental or social safeguards are not applicable.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
The specific index designated as a reference benchmark to meet the sustainable investment objective of the fund is the following: 100% Bloomberg MSCI Euro Corporate Green Bond 5% Capped Index.
Reference benchmarks are indexes to measure whether the financial product attains the sustainable investment objective.
- How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?

The reference benchmark takes into account sustainability factors in a way that is continuously aligned with the fund's sustainable investment objective as it measures the performance of the EUR-denominated green bonds (a segment of the corporate
bond market).
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

The alignment of the investment strategy with the methodology of the index is ensured on a continuous basis as the fund’s exposure to securities, and thus its performance, are likely to differ slightly from those of the benchmark.
- How does the designated index differ from a relevant broad market index?

The Bloomberg MSCI Euro Corporate Green Bond 5% Capped Index is based on Bloomberg Euro Corporate Aggregate Index and it is designed for investors who are looking to generate positive social impact through their investments.
The index includes green bonds that are fixed-income securities in which the proceeds will be exclusively and formally applied to projects or activities that promote climate or other environmental sustainability purposes through their use of proceeds. Use of proceeds and project bonds are considered eligible if the use of proceeds falls within at least one of seven eligible environmental categories defined by MSCI ESG Research (alternative energy, energy efficiency, pollution prevention and control, sustainable water, green building, climate adaption, and other).
The index offer investors an objective and robust measure of the market for fixed income securities issued to fund projects with direct environmental benefits.
- Where can the methodology used for the calculation of the designated index be found? 
- For more information regarding the methodology used to calculate the designated index, please refer to the methodology described on the index provider's website (https://www.msci.com/our-solutions/indexes/bloomberg-msci-esg-fixed-income-indexes).


###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Italian Equity Opportunities Legal entity identifier: 549300E7MMZJW0KMF648

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 45.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in Italian equities, with an emphasis on small and mid capitalisation equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 45% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 45% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 45% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned
- Non Taxonomy- aligned
- Taxonomy-aligned
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 45% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Money Market EUR T1 Legal entity identifier: 549300WLXFZTHGSYM814

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
Sovereign ESG integration: the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG infoproviders.Sovereign ESG integration: percentage of assets invested in government issuers exceeding the screening based on (i) the indicators provided by the so-called "Sustainable Development Report" which assesses
the progress made by each country in achieving the 17 UN-sponsored SDGs, the potentially negative spill overs with respect to the achievement of such goals, as well as (ii) the main environmental and social adverse impacts with respect to the government issuers.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP);
- Investee countries subject to social violations: presence of social violations in each country referring to international treaties, UN principles or local regulations.

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in higher quality investment grade short-term bonds. These investments are mainly denominated in euro. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

In addition, the fund adopts processes for selecting government issuers that use the indicators provided by the so-called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals; in addition, the main environmental and social adverse impacts on government issuers are monitored. This objective is achieved by investing at least 70% of assets in such issuers.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the investment of at least 70% of its net assets in government issuers that use the indicators provided by the so- called "Sustainable Development Report" which assesses the progress made by each country in achieving the 17 goals of sustainable development (i.e.: the "Sustainable Development Goals" or "SDGs") promoted by the United Nations and also considers potentially negative spill overs with respect to the achievement of such goals
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - SLJ Local Emerging Markets Debt
Legal entity identifier: 5493003GXX4SNDCOBJ07

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | U | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | U	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | 🗵 | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

Not applicable. The fund does not pursue a sustainable investment objective within the meaning of art. 2(17) of Regulation (EU) 2019//2088.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in government bonds issued in emerging markets, including China and Russia, and denominated in any local currency. These investments may be below investment grade and some of them may be highly speculative. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 20019/2088.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/ 2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 30% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
The fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities.
What is the minimum share of socially sustainable investments?
Not applicable. The fund promotes environmental and/or social characteristics but it does not commit itself to make sustainable investments within the meaning of art. 2(17) of Regulation (EU) 22019/2088.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website: More product-specific information can be found on the website: https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Sustainable Global Equity Legal entity identifier: 549300RNJ0W1IVOBL073

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 50.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Carbon footprint: the fund also aims to build a portfolio with a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark. The carbon intensity expresses the carbon efficiency of the fund’s portfolio, and of its benchmark, by measuring the volume of carbon emissions (in absolute tons of CO2) per dollar of sales generated by corporate issuers.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies. Carbon footprint: direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) carbon dioxide emissions (CO2) generated by the investee issuers expressed as weighted average of the CO2 intensity (with respect to their generated sales) per the weight of each corporate issuer in portfolio.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such
The fund mainly invests in equities. These investments may be from anywhere in the world. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
as investment objectives and risk tolerance.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
The fund also integrates in its portfolio building process assessments regarding the measurement of the intensity of the direct (i.e.: Scope 1) and indirect (i.e.: Scope 2) emissions of carbon dioxide (CO2) generated by corporate issuers (per sales generated) aiming at obtaining a lower carbon footprint than that of its benchmark.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 50% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the pursuit of a lower weighted carbon intensity (as determined by MSCI ESG Research) than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 50% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 50% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned
- Non Taxonomy- aligned
- Taxonomy-aligned
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website:
https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Sustainable Japan Equity Legal entity identifier: 5493004XOURTUGX04P73

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in Japanese equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 50% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 50% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 50% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 50% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website: More product-specific information can be found on the website: https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Sustainable Multiasset Legal entity identifier: 549300N5ZO5BP5ICOJ03

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 30.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests, either directly or through derivatives, in equities, corporate and government bonds denominated in any currency and in currencies themselves. These investments may be below investment grade. These investments may be from anywhere in the world, including emerging markets. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of its investment universe, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 30% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its investment universe
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 30% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 30% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 30% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website: More product-specific information can be found on the website: https://www.eurizoncapital.com/en/our-offer/documentation
Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852

#### Product name: Eurizon Fund - Top European Research Legal entity identifier: 222100EYOSQCH55BIZ36

##### Environmental and/or social characteristics
| Does this financial product have a sustainable investment objective? ••	U	 Yes	 • o	 🗵	 No |
| --- |
| U | It will make a minimum of sustainable investments with an environmental objective: % | 🗵 | It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40.00% of sustainable investments |
|  | U	 in economic activities that qualify as environmentally sustainable under the EU Taxonomy |  | U	 with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy |
|  | U	 in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |  | 🗵	 with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy |
|  |  |  | 🗵	 with a social objective |
| U | It will make a minimum of sustainable investments with a social objective % | U | It promotes E/S characteristics, but will not make any sustainable investments |


###### What environmental and/or social characteristics are promoted by this financial product?
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined as follows:
ESG Score integration: in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments.
Active ownership - engagement: the fund also promotes a proactive engagement with issuers by exercising participating and voting rights and by engagement with the investee companies by encouraging an effective communication with the management of the companies.
Sector exclusion: the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible".
Issuer exclusion: the fund does not invest in “critical” issuers (i.e. with a lower ESG sustainability rating level in the equity and bond investment universe) for which an escalation process is activated.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
- What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?

The following sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product:
Active ownership: please refer to the "Report on participation at shareholder meetings of companies with securities under portfolios of Eurizon Capital S.A." available at https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Sector exclusion: weight in the fund of issuers operating in sectors deemed not to be “socially and environmentally responsible”, identified on the basis of data provided by specialised ESG and SRI info providers.
Issuer exclusion: weight in the fund of issuers with a high exposure to environmental, social and corporate governance (ESG) risks (i.e.: “critical” issuers), identified on the basis of data provided by specialised ESG info providers.
ESG Score integration: "ESG Score" of the fund as determined by the specialised ESG info provider "MSCI ESG Research" on the basis of environmental, social and governance profile of the investee companies.
Sustainable investments are defined as investments in issuers contributing, through their own products and services or production processes, to the realization of the SDGs promoted by the United Nations and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects (green/social/sustainability-labelled bonds).
The degree of alignment of an issuer with the SDGs is assessed through an internal methodology that uses data made available by the specialist info-provider "MSCI ESG Research"; specifically, the methodology assigns, for each SDG, a specific score (on a scale of -10 “Strongly Misaligned” to +10 “Strongly Aligned”) to an issuer’s "Product Alignment” (that estimates revenues derived from products and services that meet the relevant SDG and identifies products and services that determine potentially negative impacts with respect to the achievement of the SDGs – so called “net alignment”) and "Operational Alignment" (that looks at the degree to which issuing companies' production processes - including internal policies, objectives and practices implemented - are aligned with specific SDGs).
Issuers achieving scores equal to or less than -2 are considered “Misaligned”; a score equal or higher than 2 is necessary to be assessed as “Aligned”.
A company can be considered "sustainable" if the issuer has at least one SDG with a score equal to "Aligned" or "Strongly Aligned" and no SDG with a score equal to "Misaligned" or "Strongly Misaligned".
The minimum proportion of sustainable investments is therefore calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
- What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?

Eurizon Capital S.A. has adopted a methodology for the selection of sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations. This methodology aims to select instruments issued by companies whose activities contribute to one or more of the SDG (aiming to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues) through their own products and services or production processes, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. The fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental objectives.
- How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?

Eurizon Capital S.A. selects instruments issued by companies whose activities contribute to one or more of the sustainable development goals, such as the Sustainable Development Goals (SDGs) promoted by the United Nations, provided that (i) such investments do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) the companies benefiting from such investments comply with good governance practices. In particular, the contribution to one or more of the sustainable development goals is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.
- How have the indicators for adverse impacts on sustainability factors been taken into account?

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund.
Although the negative effects of investment decisions on sustainability factors should be considered according to the different range of assets, geographic areas and sectors to which managed products are exposed, Eurizon Capital S.A. believes that adequate monitoring of exposure to social and environmental issues is a priority in order to mitigate the potential negative effects of its investments.
In particular, the methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies.
- How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?

The methodology to select sustainable investments based on the Sustainable Development Goals (SDGs) promoted by the United Nations adopted by Eurizon Capital S.A. considers principal adverse impacts through quantitative and qualitative metrics as, for example, the exposure of the issuer to eventual controversies. Within this context, Eurizon Capital S.A. assesses, for example, the issuers involvement in controversies regarding human rights, worker rights and own business conduct.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do not significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
🗵 
Yes, the identification of the main negative effects of investment choices on sustainability factors and the definition of the related mitigation actions are an integral part of Eurizon Capital S.A.'s approach to sustainability. Eurizon has adopted a specific framework which provides for specific environmental, social and governance indicators for the assessment of the negative effects on the sustainability deriving from investments according to the characteristics and objectives of the individual financial products, which provide for the use of:
- negative screening of SRI and ESG factors, with the aim of mitigating the risks of exposure to companies operating in sectors considered as not "socially responsible" (including, in particular, the exposure to the fossil fuels sector and to the unconventional weapons sector) or characterized by critical environmental, social or corporate governance;
- positive integration of ESG factors in the analysis, selection and composition of financial portfolios (Score ESG).

On the basis of controls it defined, Eurizon Capital S.A. considers specific environmental and social indicators for the assessment of the principal adverse sustainability impacts determined by the investment activities of the fund, as here below indicated.
The indicators applicable to investments in corporate securities are the following:
- Greenhouse Gas (GHG) Emissions intensity of investee companies: intensity of the direct GHG emissions that occur from sources that are controlled or owned (i.e.: Scope 1) and of the indirect GHG emissions from the generation of purchased electricity consumed (i.e.: Scope 2) of each investee company per million euro of sales generated;
- Exposure to fossil fuel companies: investments in companies that generate revenues from mineral exploration and mining, or from any other extractive activities, from the production, processing, refinement, distribution (including the transportation), the storage and trading of fossil fuels;
- Activities that adversely affect biodiversity sensitive areas: investments in companies established or doing business in or near sensitive areas for biodiversity, whose activities adversely affect those areas;
- Gender diversity on the board of directors: average ratio between women and men within the administration, management or supervisory body of the investee companies expressed as a percentage of the total holdings;
- Exposure to controversial weapons: investments in companies involved in the manufacture or in the sale of unconventional weapons (including, in particular, Land-mines, Cluster bombs, Biological weapons and Chemical weapons).

The indicators applicable to investments in sovereign and supranational securities are the following:
- Greenhouse Gas (GHG) Emissions intensity: intensity of the direct GHG emissions (i.e.: Scope 1) that occur from the economic activities and of the indirect GHG emissions from electricity generated elsewhere (i.e.: Scope 2) of each country per million euro of gross domestic product (GDP).

In the best interest of its own financial products, Eurizon Capital S.A. commits (i) to continue to develop its own Sustainability Policies and (ii) to activate specific engagement actions with regard to the issuers that show significant deviations from specific environmental, social and governance indicators or that show significant negative effects on several indicators, with the aim of directing them towards improving their sustainability practices, evaluating, only as a last resort, the disposal of their investments.
Additional information regarding the main adverse impacts indicators will be reported in the specific section of the annual report of the fund.
U 
No

###### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.
The fund mainly invests in European equities. The fund generally favours direct investment but may at times invest through derivatives. For additional information regarding the fund’s investment policy please refer to the prospectus.
The analysis of ESG factors is a qualifying element of the fund's strategy.
The fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

Indeed, and in accordance with good governance practices, the fund aims to pursue an "ESG score" - calculated at the overall portfolio level - higher than that of the relevant benchmark, through the integration of ESG factors in the analysis, selection, and composition of its investments. The ESG score is representative of the environmental, social, and corporate governance opportunities and risks to which an issuer is exposed and takes into account the issuer's management of these risks. The fund’s ESG score is calculated as a weighted average of the ESG scores of the issuers of the financial instruments held in the fund’s portfolio.
In addition, the fund does not invest in issuers operating in sectors considered "not socially and environmentally responsible", that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands. In addition, the fund does not invest in "critical" issuers for which an escalation process is activated. "critical" issuers are those companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level in the equity and bond investment universe.
The fund will have a minimum proportion of 40% of sustainable investments by investing in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices. The Sustainable Development Goals promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues.
However, the fund does not promote the specific environmental objectives set out in Regulation (EU) 2020/852. Indeed, the sustainable investments made by the funds do not take into account the European Union's technical criteria for environmentally sustainable economic activities. Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by the fund are:
- it shall assess the ESG profile of its portfolio investments through an ESG scoring methodology that covers at least:
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments)
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments)
- the pursuit of an ESG score higher than that of its benchmark
- the exclusion from the fund’s investment universe of the issuers operating in sectors deemed not “socially and environmentally responsible”, that is, (i) in companies characterized by a clear direct involvement in the manufacture of unconventional weapons, (ii) in companies that derive at least 25% of their turnover from mining or electricity production activities linked to thermal coal or (iii) in companies that derive at least 10% of their turnover from the extraction of oil sands
- the exclusion from the fund’s investment universe of the companies with the highest exposure to environmental, social and corporate governance risks, i.e. with a lower ESG sustainability rating level (equal to "CCC" assigned by the specialised info-provider "MSCI ESG Research") (“critical issuers”)
- a minimum proportion of 40% of sustainable investments
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

There is no committed minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy of the fund.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
- What is the policy to assess good governance practices of the investee companies? 
- Corporate issuers having no independent members in their administrative body are considered as not having good governance practices.

On a monthly basis, such issuers are identified between those included in the services "MSCI ESG Ratings - World", "MSCI ESG Ratings - Emerging Markets" and "MSCI ESG Ratings - Fixed Income Corporate" of "MSCI ESG Research".
In addition, the monthly list may also include other Issuers that present (i) accounting investigations, internal or by external authorities, as well as the presence of sanctions or convictions for matters relating to accounting procedures or (ii) bankruptcy or liquidation procedures.”
Such issuers are ex-ante excluded from the investment universe of the fund and, at the time of the portfolio valorisation, an ex-post control also takes place based on the latest available list of excluded issuers.

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The fund promotes environmental and/or social characteristics.
The investments aligned with the environmental or social characteristics have a minimum proportion of 80% of the fund’s net assets (#1 Aligned with E/S characteristics).
In addition, please be informed that the fund assesses the ESG profile of portfolio investments through an ESG scoring methodology that covers at least (expressed in percentages of fund’s net assets or issuers in the portfolio):
- 90% of investments in each of these asset classes: large capitalisation equities and sovereign debt from developed countries, and investment grade debt securities (including money market instruments).
- 75% of investments in each of these asset classes: large capitalisation equities and sovereign debt from emerging countries, small and mid-capitalisation equities, and below investment grade debt securities (including money market instruments).

The fund will have a minimum proportion of 40% of sustainable investments (#1A Sustainable). The fund will have a minimum proportion of 1% of sustainable investments with an environmental objective (Other environmental) and of 1% of socially sustainable investments (Social). Sustainable investments are defined as investments in issuers whose activities contribute to one or more of the Sustainable Development Goals (SDGs) or investments in bonds whose proceeds aim at financing environmental and/or social projects, provided that (i) they do not significantly harm any of the environmental or social objectives set out in Regulation (EU) 2019/2088 and (ii) they comply with good governance practices.
The SDGs promoted by the United Nations aim to foster a more conscious and lasting global development, including the well-being of human beings, the protection and care of the natural environment and responses to major social issues. An issuer’s contribution to one or more of the SDGs is assessed on the basis of selected metrics, including the exposure to controversies, which measure the adverse impacts potentially caused by the issuer.
The proportion of sustainable investments is calculated as the sum of: (i) investments in issuers having, with reference to their own products and services or production processes, a positive "net alignment" with at least 1 of the 17 SDGs and no "net misalignment" with any of the 17 SDGs, and (ii) investments in bonds whose proceeds aim at financing environmental and/or social projects relative to all investments.
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

The fund may use derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure. The fund does not use derivatives for attaining the environmental or social characteristics it promotes.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund promotes environmental and/or social characteristics and commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
Currently, the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%. However, the fund might invest in activities that may be considered as environmentally sustainable according to its investment policy, but such investments are not per se decisive to the attainment of the fund’s environmental characteristics.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
- Does the financial product invest in fossil gas and/or nuclear energy relatedactivities that comply with the EU Taxonomy 1?

U 
Yes:
U 
In fossil gas 
U 
In nuclear energy
🗵 
No
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure (OpEx) reflecting green operational activities of investee companies.
- Taxonomy-alignment of investments including sovereign bonds*0.0%
- Taxonomy-alignment of investments excluding sovereign bonds*0.0%
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned
- Taxonomy-aligned (no fossil gas &nuclear)
- Non Taxonomy- aligned100.0%100.0%This graph represents 100% (expected) of the total investments**Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
- What is the minimum share of investments in transitional and enabling activities?

Not applicable considering that the fund’s proportion of environmentally sustainable investments within the meaning of Regulation (EU) 2020/852 is equal to 0%.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
1 
Fossil gas and/or nuclear related activities will only comply with the EU Taxonomy where they contribute to limiting climate change (“climate change mitigation”) and do not significantly harm any EU Taxonomy objective - see explanatory note in the left hand margin. The full criteria for fossil gas and nuclear energy economic activities that comply with the EU Taxonomy are laid down in Commission Delegated Regulation (EU) 2022/1214.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of sustainable investments with an environmental objective because the fund's investment strategy does not have a specific environmental investment objective.
Therefore, the minimum share of sustainable investments with an environmental objective is 1%.
What is the minimum share of socially sustainable investments?
Even if the fund does not have a sustainable investment objective it commits itself to have minimum proportion of 40% of sustainable investments within the meaning of art. 2(17) of Regulation (EU) 2019/2088.
While the sum of sustainable investments with an environmental objective and socially sustainable investments adds up to the fund's minimum proportion of sustainable investments, there is a commitment to a reduced minimum share of socially sustainable investments because the fund's investment strategy does not have a specific socially sustainable investment objective.
Therefore, the minimum share of socially sustainable investments is 1%.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The following investments are included under "#2 Other": (i) potential investments in issuers with no ESG score; (ii) derivatives for reducing risks (hedging) and costs, and to gain additional investment exposure; (iii) liquid assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets; (iv) instruments and techniques only used for efficient fund management.
For the investments included under “#2 Other”, there are no minimum environmental or social safeguards.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No specific index has been designated as a reference benchmark to determine whether the fund is aligned with the environmental and/or social characteristics that it promotes..
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.
- How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?

Not applicable.
- How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?

Not applicable.
- How does the designated index differ from a relevant broad market index?

Not applicable.
- Where can the methodology used for the calculation of the designated index be found?

Not applicable.

###### Where can I find more product specific information online?
More product-specific information can be found on the website: More product-specific information can be found on the website: https://www.eurizoncapital.com/en/our-offer/documentation

Translation (ENES, 2023-09-11):
# Información precontractual conforme al SFDR
Para cada Compartimento que presente características medioambientales y sociales, y promueva la inversión en activos que sigan buenas prácticas de gobernanza, de conformidad con lo establecido en los artículos 8 y 9 del Reglamento sobre la divulgación de información relativa a la
sostenibilidad en el sector de los servicios financieros («SFDR»), esta parte del Folleto recoge la información precontractual establecida según la plantilla prevista en las normas técnicas de regulación del SFDR.
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Absolute Active
Identificador de entidad jurídica: 549300DW76EURSOWNE42

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable y en bonos corporativos y gubernamentales denominados en cualquier divisa, con una calificación de grado de inversión. Estas inversiones pueden ser de cualquier parte del mundo, y algunas pueden tener una calificación inferior a grado de inversión. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 10% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 10% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 10% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual relativa a los productos financieros a que se refieren el artículo 9, apartados 1 a 4 bis, del Reglamento (UE) 2019/2088 y el artículo 5, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Absolute Green Bonds
Identificador de entidad jurídica: 54930037WL2JEAS2P906

#### Objetivo de inversión sostenible

##### ¿Cuál es el objetivo de inversión sostenible de este producto financiero?
El objetivo de inversión sostenible de este producto financiero es lograr una rentabilidad positiva independientemente de las condiciones del mercado (rentabilidad absoluta), al tiempo que trata de lograr un efecto medioambiental positivo.
El objetivo de inversión sostenible se consigue mediante la inversión de al menos del 75% de la cartera en bonos verdes.
El fondo invierte principalmente, bien de forma directa o a través de derivados, en bonos corporativos o títulos de deuda pública emitidos para financiar proyectos respetuosos con el clima y el medio ambiente, como los relativos a las energías renovables, la eficiencia energética, la prevención de la contaminación, los medios de transporte limpios, la gestión del agua, la economía circular, la conservación de la biodiversidad y la construcción ecológica (bonos verdes). En concreto, el fondo invertirá normalmente un mínimo del 75 % de su patrimonio neto en deuda e instrumentos relacionados con la deuda, incluidos instrumentos del mercado monetario emitidos para financiar proyectos respetuosos con el clima y el medioambiente.
En particular, el proceso de selección de valores utiliza un programa de diligencia debida que se ajusta a los Principios de los Bonos Verdes (GBP) definidos por la Asociación Internacional de Mercados de Capitales (ICMA) y el estándar de bonos verdes de la Unión Europea (GBS) en vías de desarrollo. El proyecto subyacente a la emisión verde se somete a un análisis en profundidad con valoraciones objetivas y subjetivas. El proceso de análisis conlleva (i) un análisis objetivo de la finalidad de los proyectos financiados; y (ii) una valoración subjetiva de los métodos de gestión de los proyectos, la estructura organizativa del emisor, la huella medioambiental, con especial atención a la transparencia y la calidad de la información.
El seguimiento del objetivo de inversión sostenible del fondo se lleva a cabo verificando los límites fijados por su política de inversión tanto durante la preparación de las órdenes (el denominado control a priori) como durante la valoración de las carteras (el denominado control a posteriori).
La proporción mínima de inversiones sostenibles del fondo se calcula como la media ponderada de bonos verdes en cartera.
No obstante, el fondo no invierte en actividades económicas que pueden considerarse medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
Los indicadores de sostenibilidad miden cómo se logran los objetivos sostenibles de este producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir el logro del objetivo de inversión sostenible de este producto financiero?

Para medir el logro del objetivo de inversión sostenible de este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
Inversión de impacto: peso en el fondo de los bonos corporativos o valores gubernamentales emitidos exclusivamente para financiar proyectos respetuosos con el clima y el medioambiente, como las energías renovables, la eficiencia energética, la prevención de la contaminación, el transporte limpio, la gestión del agua, la economía circular, la conservación de la biodiversidad y la construcción ecológica (bonos verdes u otros instrumentos similares, como los bonos sociales y los bonos sostenibles).
- ¿De qué manera las inversiones sostenibles no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores
medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- 	Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).
- Proporción de consumo de energía no renovable: consumo por parte de las empresas en que se invierte de energía procedente de fuentes no renovables frente a fuentes renovables (como, por ejemplo, energía hidroeléctrica, eólica, solar o geotérmica, etc.) expresado como porcentaje del total de energía de cualquier fuente utilizada.
- Proporción de producción de energía no renovable: producción por parte de las empresas en que se invierte de energía procedente de fuentes no renovables frente a fuentes renovables (como, por ejemplo, energía hidroeléctrica, eólica, solar o geotérmica, etc.) expresado como porcentaje del total de energía de cualquier fuente producida.

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En un apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo tiene un objetivo de inversión sostenible para invertir normalmente un mínimo del 75% de su patrimonio neto en deuda e instrumentos relacionados con la deuda, incluidos instrumentos del mercado monetario emitidos para financiar proyectos respetuosos con el clima y el medioambiente («Bonos verdes»). La parte restante de los activos del fondo puede invertirse en otros activos que no se consideran necesariamente sostenibles.
El fondo trata de lograr un efecto social o medioambiental cuantificable y positivo, junto con una rentabilidad financiera. El fondo excluye a aquellos emisores que no sigan buenas prácticas de gobierno.
Además, el análisis de los factores ASG es un elemento cualificador de la estrategia del fondo. El fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. La exclusión del sector del carbón térmico y el de las arenas bituminosas no es aplicable en el caso de las emisiones de bonos verdes, las cuales están destinadas a financiar la transición energética y a combatir el calentamiento global.
Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores
«críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
No existe una proporción mínima de inversiones en consonancia con ningún objetivo o actividad ambiental específica, por lo que la proporción mínima de inversiones sostenibles que contribuyen a los objetivos ambientales en virtud de la taxonomía de la UE es del 0%.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados a fin de seleccionar las inversiones para lograr el objetivo de inversión sostenible?

Los elementos vinculantes de la estrategia de inversión utilizados a fin de seleccionar las inversiones para lograr el objetivo de inversión sostenible son:
- Invertir normalmente un mínimo del 75% de su patrimonio neto en deuda e instrumentos relacionados con la deuda, incluidos instrumentos del mercado monetario emitidos para financiar proyectos respetuosos con el clima y el medioambiente («Bonos verdes»).
- La exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables». La exclusión del sector del carbón térmico y el de las arenas bituminosas no es aplicable en el caso de las emisiones de bonos verdes, las cuales están destinadas a financiar la transición energética y a combatir el calentamiento global.
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»).

Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza. Dichos emisores se identifican entre los incluidos en los servicios
«MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
La actividad de supervisión de los emisores corporativos que no respetan las buenas prácticas de gobernanza se produce mediante exclusiones específicas que permiten tanto un control a priori, en el momento de la fase de precolocación de la orden, como un control a posteriori, en el momento de la valoración de la cartera.

##### ¿Cuál es la asignación de activos y la proporción mínima de inversiones sostenibles?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo tiene un objetivo de inversión sostenible e invierte normalmente un mínimo del 75% de su patrimonio neto en inversiones sostenibles (n.° 1 Sostenibles).
Las inversiones medioambientalmente sostenibles representan al menos el 75% de su patrimonio neto total. No se prevé ningún límite mínimo de inversión para las inversiones socialmente sostenibles.
El fondo puede invertir hasta un 25% de su patrimonio neto en otros activos que no se consideren necesariamente sostenibles (n.° 2 No sostenibles). No obstante, las inversiones de «n.° 2 No sostenibles» no impiden alcanzar el objetivo de inversión sostenible. Dada la naturaleza de estas inversiones, no son aplicables las garantías medioambientales o sociales mínimas.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) cualquier otro activo de acuerdo con la política de inversión del fondo; (ii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión de acuerdo con la política de inversión del fondo y su objetivo de inversión sostenible; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo, según se describe en el folleto informativo del fondo.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
- ¿De qué manera logra el uso de derivados el objetivo de inversión sostenible?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones de acuerdo con su política de inversión y su objetivo de inversión sostenible.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
No existe una proporción mínima de inversiones en consonancia con ningún objetivo o actividad ambiental específica, por lo que la proporción mínima de inversiones sostenibles que contribuyen a los objetivos ambientales en virtud de la taxonomía de la UE es del 0%.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No se prevé ningún límite mínimo de inversión para las inversiones en actividades de transición y facilitadoras.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
significativamente a un objetivo medioambiental.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
El fondo tiene un objetivo de inversión sostenible y las inversiones medioambientalmente sostenibles representan al menos el 75% de su patrimonio neto total.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo social?
No aplicable. No se prevé ningún límite mínimo de inversión para las inversiones socialmente sostenibles.
¿Qué inversiones se incluyen en el «n.° 2 No sostenibles» y cuál es su propósito? ¿Existen garantías medioambientales o sociales mínimas?
El fondo tiene un objetivo de inversión sostenible e invierte normalmente un mínimo del 75% de su patrimonio neto en inversiones sostenibles.
Las inversiones medioambientalmente sostenibles representan al menos el 75% de su patrimonio neto total.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) cualquier otro activo de acuerdo con la política de inversión del fondo; (ii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión de acuerdo con la política de inversión del fondo y su objetivo de inversión sostenible; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo, según se describe en el folleto informativo del fondo.
No obstante, las inversiones de «n.° 2 No sostenibles» no impiden alcanzar el objetivo de inversión sostenible. Dada la naturaleza de estas inversiones, no son aplicables las garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice de referencia específico para cumplir el objetivo de inversión sostenible?
Los índices de referencia son índices que miden si el producto financiero logra el objetivo de inversión sostenible.
- ¿Cómo tiene en cuenta el índice de referencia los factores de sostenibilidad de forma que esté ajustado continuamente al objetivo de inversión sostenible?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Absolute High Yield
Identificador de entidad jurídica: 549300DH1CKJGW3MUW81

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos corporativos a corto y medio plazo de cualquier calificación crediticia que estén denominados o cubiertos en euros. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 20% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 20% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 20% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Absolute Prudent Identificador de entidad jurídica: 549300218827MPVDYO63

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en bonos corporativos y gubernamentales denominados en cualquier divisa y, en menor medida, en renta variable. El fondo podrá invertir de forma significativa en bonos con calificación inferior a grado de inversión. Estas inversiones se realizan en cualquier parte del mundo. En concreto, el fondo invertirá normalmente un mínimo del 51 % de su patrimonio neto en deuda e instrumentos relacionados con la deuda, incluidos bonos convertibles y bonos cubiertos, e instrumentos del mercado monetario. Parte de estas inversiones pueden tener una calificación inferior a grado de inversión. La exposición neta a renta variable puede oscilar entre el 20% y el -20% del patrimonio neto. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 10% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 10% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 10% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Absolute Return Solution
Identificador de entidad jurídica: 549300TTPCTVI8G4LP50

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 22019/ 2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 20019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable y en bonos corporativos y gubernamentales. Estas inversiones se realizan en cualquier parte del mundo, incluidos China, Rusia y otros mercados emergentes, y algunas pueden tener una calificación inferior a grado de inversión. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Active Allocation Identificador de entidad jurídica: 54930048XIABWU68BF17

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable, bonos corporativos y gubernamentales denominados en cualquier divisa, así como en divisas. Estas inversiones pueden provenir de cualquier país del mundo, incluso de mercados emergentes, y algunas de ellas pueden ser sin grado de inversión. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 5% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 5% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 5% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Asian Equity Opportunities
Identificador de entidad jurídica: 549300FTPG064FH2CT76

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable de mercados asiáticos desarrollados y emergentes, excepto Japón. El fondo podrá invertir en cualquier sector y capitalización bursátil. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 80% de las inversiones en todas las clases de activos.
En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 80% de las inversiones en todas las clases de activos.
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Azioni Strategia Flessibile
Identificador de entidad jurídica: 549300CWOONLZGXV6352

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Huella de carbono: el fondo también trata de construir una cartera con una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su universo de inversión. La intensidad de carbono expresa la eficiencia de carbono de la cartera del fondo, y de su universo de inversión, midiendo el volumen de emisiones de carbono (en toneladas absolutas de CO2) por dólar de ventas generadas por emisores corporativos
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte. Huella de carbono: es decir, emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Ámbito 2) generadas por generado por los emisores en que se invierte expresadas como media ponderada de la intensidad de CO2 (respecto a sus ventas generadas) por la ponderación de cada emisor corporativo en cartera.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de
dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable europea y estadounidense. El fondo también podrá invertir de forma significativa en bonos gubernamentales y corporativos e instrumentos del mercado monetario. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
El fondo también integra en su proceso de creación de cartera evaluaciones relativas a la medición de la intensidad de las emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Ámbito 2) generadas por emisores corporativos (por ventas generadas) para tratar de obtener una huella de carbono inferior a la de su universo de inversión.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 25% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No
obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la búsqueda de una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 25% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 25% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Aggregate EUR
Identificador de entidad jurídica: 549300YLU5Z1JQP8CC18

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en una amplia gama de bonos corporativos y gubernamentales con una calificación de grado de inversión. Estas inversiones están denominadas principalmente en euros y pueden ser de cualquier parte del mundo, incluidos los mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 15% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 15% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 15% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 50% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Aggregate EUR Short Term
Identificador de entidad jurídica: 54930067LEBURNSDNL83

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en una amplia gama de bonos corporativos y gubernamentales a corto plazo con una calificación de grado de inversión. Estas inversiones están denominadas principalmente en euros y pueden ser de cualquier parte del mundo, incluida China y otros mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 10% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 10% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 10% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 50% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Corporate EUR Identificador de entidad jurídica: 5493008XGFSGYJTP7781

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte. Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
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Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos corporativos denominados en euros. Estas inversiones pueden tener una calificación inferior a grado de inversión. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

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Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Corporate EUR Short Term
Identificador de entidad jurídica: 549300GXZQ1AUR953E73

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos corporativos a corto plazo denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 25% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 25% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 25% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Corporate Smart ESG
Identificador de entidad jurídica: 549300TTFGY6KESMTQ72

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos corporativos denominados en euros y podrá invertir de forma significativa en bonos con una calificación inferior a grado de inversión. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Emerging Markets
Identificador de entidad jurídica: 549300BZGW07V7D5VL89

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales y corporativos emitidos en mercados emergentes, incluidos China y Rusia, y denominados en dólares estadounidenses u otras divisas fuertes. Estas inversiones pueden tener una calificación inferior a grado de inversión, y en algunos casos pueden ser altamente especulativas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
cuenta los criterios para las actividades económicas medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Emerging Markets in Local Currencies ESG
Identificador de entidad jurídica: 549300IX3GUWKBG5M588

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 22019/ 2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

El fondo promueve características medioambientales y sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 20019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales e instrumentos del mercado monetario emitidos en mercados emergentes, incluidos China y Rusia, y denominados en cualquier moneda local. Estas inversiones pueden tener una calificación inferior a grado de inversión, y en algunos casos pueden ser altamente especulativas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**1 Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.

Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
logra las características medioambientales o
sociales que promueve.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond EUR 1-10 y LTE
Identificador de entidad jurídica: 5493001YWISLPEWBPS61

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de
electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond EUR All Maturities LTE
Identificador de entidad jurídica: 549300XLYE9ECP2TRS22

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de
electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond EUR Long Term LTE
Identificador de entidad jurídica: 549300B22R97K38OCC37

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de
electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond EUR Medium Term LTE
Identificador de entidad jurídica: 549300WU9J3CMUBCG706

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de
electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond EUR Short Term LTE
Identificador de entidad jurídica: 549300N1TOHD2XCCBD19

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de
electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Euro High Yield
Identificador de entidad jurídica: 549300W6NNREWAW7SI05

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 10% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 10% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 10% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Flexible Identificador de entidad jurídica: 549300ZWVJDYNGILI089

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 22019/ 2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 20019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte, de manera directa o a través de derivados, en bonos corporativos y gubernamentales y en instrumentos del mercado monetario denominados en cualquier divisa, así como en divisas. Estas inversiones pueden tener una calificación inferior a grado de inversión y se realizan en cualquier parte del mundo, incluidos China y otros mercados emergentes. El fondo podrá invertir de forma significativa en bonos del gobierno italiano con cualquier calificación crediticia. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el
fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond High Yield Identificador de entidad jurídica: 549300IIT8NGJSNR7136

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos corporativos con una calificación inferior a grado de inversión denominados en cualquier divisa de emisores que estén ubicados, o desarrollen la mayor parte de su actividad, en Europa. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 10% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 10% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 10% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Inflation Linked
Identificador de entidad jurídica: 549300EEAY5G5AB99Z67

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 22019/ 2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 20019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales vinculados a la inflación denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el
fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Bond Short Term EUR T1
Identificador de entidad jurídica: 5493002Y47FE0FT5L004

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales con grado de inversión denominados en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de
electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Cash EUR Identificador de entidad jurídica: 549300975OYOJEEVKD28

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: El fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos a corto plazo con grado de inversión. Estas inversiones están denominadas principalmente en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totalesLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - China Opportunity Identificador de entidad jurídica: 5493005OR8IMCNJO7V88

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores
medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en bonos corporativos y gubernamentales chinos y en instrumentos del mercado monetario denominados en renminbi onshore u offshore. Estas inversiones pueden tener una calificación inferior a grado de inversión, y en algunos casos pueden ser altamente especulativas. El fondo también podrá invertir de forma significativa en renta variable china. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 80% de las inversiones en todas las clases de activos.
En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 80% de las inversiones en todas las clases de activos.
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Conservative Allocation
Identificador de entidad jurídica: 549300C7CW2DWMIHKN76

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable y bonos corporativos y gubernamentales europeos y estadounidenses, denominados en cualquier divisa, así como en divisas. Estas inversiones pueden provenir de cualquier país del mundo, incluso de mercados emergentes, y algunas de ellas pueden ser sin grado de inversión. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 15% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 15% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 15% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity China A Identificador de entidad jurídica: 549300IQSMKIXHBFRJ95

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable que se negocian en China y están denominados en renminbi onshore u offshore. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 5% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 5% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 5% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity China Smart Volatility
Identificador de entidad jurídica: 549300EKF9MDX2ZN6X42

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable de China que cotizan en Hong Kong. En menor medida, el fondo también podrá invertir en valores de renta variable que coticen en China. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 15% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 15% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 15% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 15% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Circular Economy
Identificador de entidad jurídica: 549300CIDSVFR55QNS56

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Huella de carbono: el fondo también trata de construir una cartera con una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia. La intensidad de carbono expresa la eficiencia de carbono de la cartera del fondo, y de su índice de referencia, midiendo el volumen de emisiones de carbono (en toneladas absolutas de CO2) por dólar de ventas generadas por emisores corporativos
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte. Huella de carbono: es decir, emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Ámbito 2) generadas por generado por los emisores en que se invierte expresadas como media ponderada de la intensidad de CO2 (respecto a sus ventas generadas) por la ponderación de cada emisor corporativo en cartera.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de
dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable de empresas que participan en la transición a una economía circular mediante procesos como el reciclaje de productos, la reducción de residuos, la ampliación de la vida útil de los productos y los recursos renovables. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
El fondo también integra en su proceso de creación de cartera evaluaciones relativas a la medición de la intensidad de las emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Emisiones de dióxido de carbono (CO2) (Ámbito 2) generadas por emisores corporativos (por ventas generadas) para tratar de obtener una huella de carbono inferior a la de su índice de referencia.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 50% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la búsqueda de una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 50% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 50% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
características medioambientales o sociales que promueve.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Emerging Markets
Identificador de entidad jurídica: 5493009TA3BCQ5UYZM58

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable emergente. El fondo podrá invertir en cualquier capitalización bursátil. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Emerging Markets LTE
Identificador de entidad jurídica: 5493004QBZF8XSVG1E67

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la Organización de Cooperación y Desarrollo Económicos (OCDE) para Empresas Multinacionales: presencia de inversiones en empresas que han estado relacionadas con infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la OCDE para Empresas Multinacionales;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización de empresas de la región Asia-Pacífico, excluido Japón. Parte de estas inversiones pueden ser de China. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI Emerging Markets ESG Universal Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI Emerging Markets ESG Universal Index se basa en el MSCI Emerging Markets Index, su índice matriz, e incluye valores de mediana y gran capitalización de 25 países de los Mercados Emergentes*. El índice está diseñado para reflejar la rentabilidad de una estrategia de inversión que, alejándose de las ponderaciones de capitalización bursátil de flotación libre, trata de obtener exposición a aquellas empresas que demuestran tanto un sólido perfil ASG como una tendencia positiva en la mejora de ese perfil, utilizando exclusiones mínimas del MSCI Emerging Markets Index.
* Son países de los Mercados Emergentes: Arabia Saudí, Brasil, Catar, Chile, China, Colombia, Corea, Egipto, Emiratos Árabes Unidos, Grecia, Filipinas, Hungría, India, Indonesia, Kuwait, Malasia, México, Perú, Polonia, República Checa, Rusia, Sudáfrica, Tailandia, Taiwán y Turquía.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-universal-indexes).
El MSCI Emerging Markets ESG Universal pertenece a la familia de MSCI ESG Universal Indexes. Los MSCI ESG Universal Indexes se construyen siguiendo los siguientes pasos:
- En primer lugar, se excluyen los valores con el perfil ASG más débil del Índice matriz.
- En segundo lugar, se define un factor de reponderación ASG que refleja una evaluación tanto del perfil ASG actual (basado en el MSCI ESG Rating actual) como de la tendencia de dicho perfil (basado en la Tendencia del MSCI ESG Rating).
- Por último, los valores se vuelven a ponderar a partir de las ponderaciones de capitalización bursátil de capitalización libre del Índice matriz utilizando la puntuación ASG combinada para construir el MSCI ESG Universal Index.

Los MSCI ESG Universal Indexes únicamente excluyen a las empresas que vulneran las normas internacionales (por ejemplo, las que se enfrentan a controversias muy graves relacionadas con los derechos humanos, los derechos laborales o el medioambiente) y las empresas relacionadas con armas controvertidas (minas terrestres, municiones de racimo, uranio empobrecido y armas biológicas y químicas).
El índice se revisa en febrero, mayo, agosto y noviembre, coincidiendo con las revisiones trimestrales y semestrales del índice de los MSCI Global Investable Market Indexes.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Emerging Markets Smart Volatility
Identificador de entidad jurídica: 54930083ZR757M6P6736

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable emergente. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Euro LTE
Identificador de entidad jurídica: 549300SECH6KW34PHG41

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la Organización de Cooperación y Desarrollo Económicos (OCDE) para Empresas Multinacionales: presencia de inversiones en empresas que han estado relacionadas con infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la OCDE para Empresas Multinacionales;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización de empresas de la Unión Económica y Monetaria europea (UEM). Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 45% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 45% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 45% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI EMU ESG Universal Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI EMU ESG Universal Index se basa en el MSCI EMU Index, su índice matriz, e incluye valores de mediana y gran capitalización de 10 países de los Mercados Desarrollados* de la UEM. El índice está diseñado para reflejar la rentabilidad de una estrategia de inversión que, alejándose de las ponderaciones de capitalización bursátil de flotación libre, trata de obtener exposición a aquellas empresas que demuestran tanto un sólido perfil ASG como una tendencia positiva en la mejora de ese perfil, utilizando exclusiones mínimas del MSCI EMU Index.
* Los países de los Mercados Desarrollados de la UEM son: Alemania, Austria, Bélgica, España, Finlandia, Francia, Irlanda, Italia, Países Bajos y Portugal.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-universal-indexes).
El MSCI EMU ESG Universal pertenece a la familia de MSCI ESG Universal Indexes. Los MSCI ESG Universal Indexes se construyen siguiendo los siguientes pasos:
- En primer lugar, se excluyen los valores con el perfil ASG más débil del Índice matriz.
- En segundo lugar, se define un factor de reponderación ASG que refleja una evaluación tanto del perfil ASG actual (basado en el MSCI ESG Rating actual) como de la tendencia de dicho perfil (basado en la Tendencia del MSCI ESG Rating).
- Por último, los valores se vuelven a ponderar a partir de las ponderaciones de capitalización bursátil de capitalización libre del Índice matriz utilizando la puntuación ASG combinada para construir el MSCI ESG Universal Index.

Los MSCI ESG Universal Indexes únicamente excluyen a las empresas que vulneran las normas internacionales (por ejemplo, las que se enfrentan a controversias muy graves relacionadas con los derechos humanos, los derechos laborales o el medioambiente) y las empresas relacionadas con armas controvertidas (minas terrestres, municiones de racimo, uranio empobrecido y armas biológicas y químicas).
El índice se revisa en febrero, mayo, agosto y noviembre, coincidiendo con las revisiones trimestrales y semestrales del índice de los MSCI Global Investable Market Indexes.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Europe ESG Leaders LTE
Identificador de entidad jurídica: 549300E64AGBXLYP7B83

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo obtendrá exposición (al menos en un 90% de su patrimonio neto) a empresas con la mejor calificación medioambiental, social y de gobernanza (ASG) de cada sector.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización europeas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 45% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de su cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 45% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
El fondo tendrá una proporción mínima del 45% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI Europe ESG Leaders Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI Europe ESG Leaders Index se basa en el MSCI Europe Index.
El MSCI Europe ESG Index es un índice ponderado por capitalización que proporciona exposición a empresas con un alto rendimiento medioambiental, social y de gobernanza (ASG) en relación con sus homólogas del sector. El MSCI Europe ESG Leaders Index está compuesto por empresas de mediana y gran capitalización de 15 países de los Mercados Desarrollados*. El Índice está diseñado para inversores que buscan un índice de referencia de sostenibilidad amplio y diversificado con un error de seguimiento relativamente bajo respecto al mercado de renta variable subyacente. El Índice es miembro de la serie MSCI ESG Leaders Index. La selección de los componentes se basa en los datos de MSCI ESG Research.
* Los países de los Mercados Desarrollados de Europa son: Alemania, Austria, Bélgica, Dinamarca, España, Finlandia, Francia, Irlanda, Italia, Noruega, Países Bajos, Portugal, Reino Unido, Suecia y Suiza.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-leaders-indexes).
El MSCI Europe ESG Leaders pertenece a la familia de MSCI ESG Leaders Indexes.
Los MSCI ESG Leaders Indexes se construyen aplicando un proceso de selección best-in-class a las empresas de los índices regionales que componen el MSCI ACWI, un índice de renta variable mundial formado por países desarrollados y emergentes. Los ESG Leaders Indexes se marcan como objetivo ponderaciones sectoriales y regionales coherentes con las de los índices subyacentes para limitar el riesgo sistemático introducido por el proceso de selección ASG.
La metodología trata de incluir valores de empresas con las mejores calificaciones ASG que representen el 50% de la capitalización bursátil en cada sector y región del Índice matriz. Las empresas que no forman parte de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 3 o superior para ser admisibles. Los componentes actuales de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 1 o superior para ser admisibles. Además, quedan excluidas de los Índices las empresas que muestren una participación cualificada en los sectores del alcohol, el juego, el tabaco, la energía nuclear, las armas de fuego de uso civil, la extracción de combustibles fósiles, la energía térmica del carbón y las armas.
El universo de selección de los ESG Leaders Indexes son los componetes de los MSCI Global Investable Market Indexes.
El Índice está ponderado por la capitalización bursátil ajustada a la cotización.
La Revisión anual de los MSCI ESG Leaders Indexes tiene lugar en mayo, con un reajuste en agosto, noviembre y febrero.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Europe ESG LTE
Identificador de entidad jurídica: 549300JIJPEYMO2VI624

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización europeas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Europe LTE Identificador de entidad jurídica: 549300NIVJZIDZQHY759

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la Organización de Cooperación y Desarrollo Económicos (OCDE) para Empresas Multinacionales: presencia de inversiones en empresas que han estado relacionadas con infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la OCDE para Empresas Multinacionales;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización europeas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI Europe ESG Universal Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI Europe ESG Universal Index se basa en el MSCI Europe Index, su índice matriz, e incluye valores de mediana y gran capitalización de 15 países de los Mercados Desarrollados* de Europa. El índice está diseñado para reflejar la rentabilidad de una estrategia de inversión que, alejándose de las ponderaciones de capitalización bursátil de flotación libre, trata de obtener exposición a aquellas empresas que demuestran tanto un sólido perfil ASG como una tendencia positiva en la mejora de ese perfil, utilizando exclusiones mínimas del MSCI Europe Index.
* Son países de los Mercados Desarrollados: Alemania, Austria, Bélgica, Dinamarca, España, Finlandia, Francia, Irlanda, Italia, Noruega, Países Bajos, Portugal, Reino Unido, Suecia y Suiza.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-universal-indexes).
El MSCI Europe ESG Universal pertenece a la familia de MSCI ESG Universal Indexes. Los MSCI ESG Universal Indexes se construyen siguiendo los siguientes pasos:
- En primer lugar, se excluyen los valores con el perfil ASG más débil del Índice matriz.
- En segundo lugar, se define un factor de reponderación ASG que refleja una evaluación tanto del perfil ASG actual (basado en el MSCI ESG Rating actual) como de la tendencia de dicho perfil (basado en la Tendencia del MSCI ESG Rating).
- Por último, los valores se vuelven a ponderar a partir de las ponderaciones de capitalización bursátil de capitalización libre del Índice matriz utilizando la puntuación ASG combinada para construir el MSCI ESG Universal Index.

Los MSCI ESG Universal Indexes únicamente excluyen a las empresas que vulneran las normas internacionales (por ejemplo, las que se enfrentan a controversias muy graves relacionadas con los derechos humanos, los derechos laborales o el medioambiente) y las empresas relacionadas con armas controvertidas (minas terrestres, municiones de racimo, uranio empobrecido y armas biológicas y químicas).
El índice se revisa en febrero, mayo, agosto y noviembre, coincidiendo con las revisiones trimestrales y semestrales del índice de los MSCI Global Investable Market Indexes.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity High Dividend
Identificador de entidad jurídica: 54930019VNMHY4HB4P36

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable de mercados desarrollados. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 20% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 20% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 20% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Innovation Identificador de entidad jurídica: 549300XJ1BMSX5305U71

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable de empresas que pueden beneficiarse de las tendencias de innovación a largo plazo, como la tecnología de las comunicaciones, la inteligencia artificial, la robótica, el comercio electrónico y la ciberseguridad. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Italy Smart Volatility
Identificador de entidad jurídica: 549300JK0IG60Q0S6R15

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable italiana. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 45% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 45% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 45% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Japan LTE
Identificador de entidad jurídica: 5493003BMWBFAV1F1H65

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la Organización de Cooperación y Desarrollo Económicos (OCDE) para Empresas Multinacionales: presencia de inversiones en empresas que han estado relacionadas con infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la OCDE para Empresas Multinacionales;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización japonesas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI Japan ESG Universal Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI Japan ESG Universal Index se basa en el MSCI Japan Index, su índice matriz, e incluye valores de mediana y gran capitalización de los mercados de renta variable japoneses. El índice está diseñado para reflejar la rentabilidad de una estrategia de inversión que, alejándose de las ponderaciones de capitalización bursátil de flotación libre, trata de obtener exposición a aquellas empresas que demuestran tanto un sólido perfil ASG como una tendencia positiva en la mejora de ese perfil, utilizando exclusiones mínimas del MSCI Japan Index.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-universal-indexes).
El MSCI Japan ESG Universal pertenece a la familia de MSCI ESG Universal Indexes. Los MSCI ESG Universal Indexes se construyen siguiendo los siguientes pasos:
- En primer lugar, se excluyen los valores con el perfil ASG más débil del Índice matriz.
- En segundo lugar, se define un factor de reponderación ASG que refleja una evaluación tanto del perfil ASG actual (basado en el MSCI ESG Rating actual) como de la tendencia de dicho perfil (basado en la Tendencia del MSCI ESG Rating).
- Por último, los valores se vuelven a ponderar a partir de las ponderaciones de capitalización bursátil de capitalización libre del Índice matriz utilizando la puntuación ASG combinada para construir el MSCI ESG Universal Index.

Los MSCI ESG Universal Indexes únicamente excluyen a las empresas que vulneran las normas internacionales (por ejemplo, las que se enfrentan a controversias muy graves relacionadas con los derechos humanos, los derechos laborales o el medioambiente) y las empresas relacionadas con armas controvertidas (minas terrestres, municiones de racimo, uranio empobrecido y armas biológicas y químicas).
El índice se revisa en febrero, mayo, agosto y noviembre, coincidiendo con las revisiones trimestrales y semestrales del índice de los MSCI Global Investable Market Indexes.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity North America LTE
Identificador de entidad jurídica: 549300VRUVDGNC6X5K46

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la Organización de Cooperación y Desarrollo Económicos (OCDE) para Empresas Multinacionales: presencia de inversiones en empresas que han estado relacionadas con infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la OCDE para Empresas Multinacionales;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización estadounidenses y canadienses. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 25% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 25% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 25% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI North America ESG Universal Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI North America ESG Universal Index se basa en el MSCI North America Index, su índice matriz, e incluye valores de mediana y gran capitalización de los mercados de renta variable de EE. UU. y Canadá. El índice está diseñado para reflejar la rentabilidad de una estrategia de inversión que, alejándose de las ponderaciones de capitalización bursátil de flotación libre, trata de obtener exposición a aquellas empresas que demuestran tanto un sólido perfil ASG como una tendencia positiva en la mejora de ese perfil, utilizando exclusiones mínimas del MSCI North America Index.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-universal-indexes).
El MSCI North America ESG Universal pertenece a la familia de MSCI ESG Universal Indexes. Los MSCI ESG Universal Indexes se construyen siguiendo los siguientes pasos:
- En primer lugar, se excluyen los valores con el perfil ASG más débil del Índice matriz.
- En segundo lugar, se define un factor de reponderación ASG que refleja una evaluación tanto del perfil ASG actual (basado en el MSCI ESG Rating actual) como de la tendencia de dicho perfil (basado en la Tendencia del MSCI ESG Rating).
- Por último, los valores se vuelven a ponderar a partir de las ponderaciones de capitalización bursátil de capitalización libre del Índice matriz utilizando la puntuación ASG combinada para construir el MSCI ESG Universal Index.

Los MSCI ESG Universal Indexes únicamente excluyen a las empresas que vulneran las normas internacionales (por ejemplo, las que se enfrentan a controversias muy graves relacionadas con los derechos humanos, los derechos laborales o el medioambiente) y las empresas relacionadas con armas controvertidas (minas terrestres, municiones de racimo, uranio empobrecido y armas biológicas y químicas).
El índice se revisa en febrero, mayo, agosto y noviembre, coincidiendo con las revisiones trimestrales y semestrales del índice de los MSCI Global Investable Market Indexes.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Pacific ex- Japan LTE
Identificador de entidad jurídica: 5493006CRPNDSRR2QJ89

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
lucha contra la corrupción y el soborno.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la Organización de Cooperación y Desarrollo Económicos (OCDE) para Empresas Multinacionales: presencia de inversiones en empresas que han estado relacionadas con infracciones de los principios del Pacto Mundial de las Naciones Unidas y de las Líneas Directrices de la OCDE para Empresas Multinacionales;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización de empresas de la región Asia-Pacífico, excluido Japón. Parte de estas inversiones pueden ser de China. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI Pacific ex Japan ESG Universal Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI Pacific ex Japan ESG Universal Index se basa en el MSCI Pacific ex Japan Index, su índice matriz, e incluye empresas de mediana y gran capitalización de 4 de los 5 países de los mercados desarrollados de la región del Pacífico (excepto Japón)*. El índice está diseñado para reflejar la rentabilidad de una estrategia de inversión que, alejándose de las ponderaciones de capitalización bursátil de flotación libre, trata de obtener exposición a aquellas empresas que demuestran tanto un sólido perfil ASG como una tendencia positiva en la mejora de ese perfil, utilizando exclusiones mínimas del MSCI Pacific ex Japan Index.
* Son países de los Mercados Desarrollados del MSCI Pacific ex Japan Index: Australia, Hong Kong, Nueva Zelanda y Singapur.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-universal-indexes).
El MSCI Pacific ex Japan ESG Universal pertenece a la familia de MSCI ESG Universal Indexes. Los MSCI ESG Universal Indexes se construyen siguiendo los siguientes pasos:
- En primer lugar, se excluyen los valores con el perfil ASG más débil del Índice matriz.
- En segundo lugar, se define un factor de reponderación ASG que refleja una evaluación tanto del perfil ASG actual (basado en el MSCI ESG Rating actual) como de la tendencia de dicho perfil (basado en la Tendencia del MSCI ESG Rating).
- Por último, los valores se vuelven a ponderar a partir de las ponderaciones de capitalización bursátil de capitalización libre del Índice matriz utilizando la puntuación ASG combinada para construir el MSCI ESG Universal Index.

Los MSCI ESG Universal Indexes únicamente excluyen a las empresas que vulneran las normas internacionales (por ejemplo, las que se enfrentan a controversias muy graves relacionadas con los derechos humanos, los derechos laborales o el medioambiente) y las empresas relacionadas con armas controvertidas (minas terrestres, municiones de racimo, uranio empobrecido y armas biológicas y químicas).
El índice se revisa en febrero, mayo, agosto y noviembre, coincidiendo con las revisiones trimestrales y semestrales del índice de los MSCI Global Investable Market Indexes.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity People Identificador de entidad jurídica: 549300KTCY7ZH3LX6I58

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable de empresas que pueden beneficiarse de las tendencias demográficas y sociales mundiales a largo plazo, como el envejecimiento de la población, la obesidad y el estilo de vida de las generaciones más jóvenes. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Planet Identificador de entidad jurídica: 549300IKPFWCH028ZQ26

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Huella de carbono: el fondo también trata de construir una cartera con una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia. La intensidad de carbono expresa la eficiencia de carbono de la cartera del fondo, y de su índice de referencia, midiendo el volumen de emisiones de carbono (en toneladas absolutas de CO2) por dólar de ventas generadas por emisores corporativos
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte. Huella de carbono: es decir, emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Ámbito 2) generadas por generado por los emisores en que se invierte expresadas como media ponderada de la intensidad de CO2 (respecto a sus ventas generadas) por la ponderación de cada emisor corporativo en cartera.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de
dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable de empresas que pueden beneficiarse de las tendencias mundiales a largo plazo para preservar el planeta, como las energías renovables, la eficiencia energética, los alimentos sostenibles, la gestión de los residuos y el tratamiento de la contaminación. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
El fondo también integra en su proceso de creación de cartera evaluaciones relativas a la medición de la intensidad de las emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Emisiones de dióxido de carbono (CO2) (Ámbito 2) generadas por emisores corporativos (por ventas generadas) para tratar de obtener una huella de carbono inferior a la de su índice de referencia.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la búsqueda de una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
características medioambientales o sociales que promueve.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund – Equity Real Estate Identificador de entidad jurídica: 549300HZ88MZIPCKGJ29

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en REIT y valores de renta variable de empresas dedicadas a la propiedad, promoción y negociación de inmuebles de cualquier parte del mundo. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 50% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC» asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 50% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI
ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 50% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores
cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones.
El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity Small Mid Cap Europe
Identificador de entidad jurídica: 549300Y48WIIWTP5Z179

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable europeos de pequeña y mediana capitalización. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 50% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 50% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 50% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity USA Identificador de entidad jurídica: 549300N22TZ7NMD10A80

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable estadounidense. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 20% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 20% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 20% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity USA ESG Leaders LTE
Identificador de entidad jurídica: 549300GJB82FY5QSQF28

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo obtendrá exposición (al menos en un 90% de su patrimonio neto) a empresas con la mejor calificación medioambiental, social y de gobernanza (ASG) de cada sector.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-and-esg-engagement-polic
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización estadounidenses. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 35% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de su cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 35% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
El fondo tendrá una proporción mínima del 35% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 35% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 35% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 35% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI USA ESG Leaders 10/40 Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI USA ESG Leaders 10/40 Index se basa en el MSCI USA Index.
El MSCI USA ESG Leaders 10/40 Index es un índice ponderado por capitalización que proporciona exposición a empresas con un alto rendimiento medioambiental, social y de gobernanza (ASG) en relación con sus homólogas del sector. El MSCI USA ESG Leaders 10/40 Index está compuesto por empresas de mediana y gran capitalización del mercado estadounidense. El Índice está diseñado para inversores que buscan un índice de referencia de sostenibilidad amplio y diversificado con un error de seguimiento relativamente bajo respecto al mercado de renta variable subyacente. El Índice es miembro de la serie MSCI ESG Leaders Index. La selección de los componentes se basa en los datos de MSCI ESG Research.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-leaders-indexes).
El MSCI USA ESG Leaders 10/40 pertenece a la familia de MSCI ESG Leaders Indexes.
Los MSCI ESG Leaders Indexes se construyen aplicando un proceso de selección best-in-class a las empresas de los índices regionales que componen el MSCI ACWI, un índice de renta variable mundial formado por países desarrollados y emergentes. Los ESG Leaders Indexes se marcan como objetivo ponderaciones sectoriales y regionales coherentes con las de los índices subyacentes para limitar el riesgo sistemático introducido por el proceso de selección ASG.
La metodología trata de incluir valores de empresas con las mejores calificaciones ASG que representen el 50% de la capitalización bursátil en cada sector y región del Índice matriz. Las empresas que no forman parte de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG
Controversies de 3 o superior para ser admisibles. Los componentes actuales de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 1 o superior para ser admisibles. Además, quedan excluidas de los Índices las empresas que muestren una participación cualificada en los sectores del alcohol, el juego, el tabaco, la energía nuclear, las armas de fuego de uso civil, la extracción de combustibles fósiles, la energía térmica del carbón y las armas.
El universo de selección de los ESG Leaders Indexes son los componetes de los MSCI Global Investable Market Indexes.
El Índice está ponderado por la capitalización bursátil ajustada a la cotización.
La Revisión anual de los MSCI ESG Leaders Indexes tiene lugar en mayo, con un reajuste en agosto, noviembre y febrero.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity USA ESG LTE
Identificador de entidad jurídica: 549300UBJ1V4I7301S26

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización estadounidenses. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 25% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 25% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 25% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity World ESG Leaders LTE
Identificador de entidad jurídica: 549300IKJ33RCTJXWG19

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo obtendrá exposición (al menos en un 90% de su patrimonio neto) a empresas con la mejor calificación medioambiental, social y de gobernanza (ASG) de cada sector.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización de mercados desarrollados. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de su cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI World ESG Leaders Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI World ESG Leaders Index se basa en el MSCI World Index.
El MSCI World ESG Leaders Index es un índice ponderado por capitalización que proporciona exposición a empresas con un alto rendimiento medioambiental, social y de gobernanza (ASG) en relación con sus homólogas del sector. El MSCI World ESG Leaders Index se construye combinando los siguientes Índices regionales: MSCI Pacific ESG Leaders Index, MSCI Europe & Middle East ESG Leaders Index, MSCI Canada ESG Leaders Index y MSCI USA ESG Leaders Index. El Índice matriz, el MSCI World Index, que está compuesto por empresas de mediana y gran capitalización de 23 países de los Mercados Desarrollados*. El Índice está diseñado para inversores que buscan un índice de referencia de sostenibilidad amplio y diversificado con un error de seguimiento relativamente bajo respecto al mercado de renta variable subyacente. El Índice es miembro de la serie MSCI ESG Leaders Index. La selección de los componentes se basa en los datos de MSCI ESG Research.
* Los países de los Mercados Emergentes son: Alemania, Australia, Austria, Bélgica, Canadá, Dinamarca, España,
EE. UU., Finlandia, Francia, Hong Kong, Irlanda, Israel, Italia, Japón, Noruega, Nueva Zelanda, Países Bajos, Portugal, Reino Unido, Singapur, Suecia y Suiza.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-leaders-indexes).
El MSCI World ESG Leaders pertenece a la familia de MSCI ESG Leaders Indexes.
Los MSCI ESG Leaders Indexes se construyen aplicando un proceso de selección best-in-class a las empresas de los índices regionales que componen el MSCI ACWI, un índice de renta variable mundial formado por países desarrollados y emergentes. Los ESG Leaders Indexes se marcan como objetivo ponderaciones sectoriales y regionales coherentes con las de los índices subyacentes para limitar el riesgo sistemático introducido por el proceso de selección ASG.
La metodología trata de incluir valores de empresas con las mejores calificaciones ASG que representen el 50% de la capitalización bursátil en cada sector y región del Índice matriz. Las empresas que no forman parte de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 3 o superior para ser admisibles. Los componentes actuales de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 1 o superior para ser admisibles. Además, quedan excluidas de los Índices las empresas que muestren una participación cualificada en los sectores del alcohol, el juego, el tabaco, la energía nuclear, las armas de fuego de uso civil, la extracción de combustibles fósiles, la energía térmica del carbón y las armas.
El universo de selección de los ESG Leaders Indexes son los componetes de los MSCI Global Investable Market Indexes.
El Índice está ponderado por la capitalización bursátil ajustada a la cotización.
La Revisión anual de los MSCI ESG Leaders Indexes tiene lugar en mayo, con un reajuste en agosto, noviembre y febrero.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity World Ex- Europe ESG Leaders LTE
Identificador de entidad jurídica: 549300Z4EQ1LJU9GE583

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Index integration: el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo obtendrá exposición (al menos en un 90% de su patrimonio neto) a empresas con la mejor calificación medioambiental, social y de gobernanza (ASG) de cada sector.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. ESG Index integration: porcentaje de activos invertidos en emisores presentes en el índice de referencia.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable emitidos por empresas de mediana y gran capitalización de mercados desarrollados, sin incluir Europa. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y
(ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de su cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
- la inversión de al menos el 90% de su patrimonio neto en emisores presentes en su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 90% del patrimonio del fondo (N.° 1 Ajustadas a características medioambientales o sociales).
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo podrá utilizar derivados para obtener exposición a su índice de referencia y, por tanto, alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
Se ha designado el siguiente índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve. 100% MSCI World Ex-Europe ESG Leaders Index.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

El índice de referencia se ajusta continuamente a cada una de las características medioambientales o sociales promovidas por el fondo ya que, de acuerdo con su estrategia, el fondo invertirá al menos el 90% de su patrimonio en emisores presentes en su índice de referencia identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

Eurizon Capital S.A. ha adoptado medidas específicas de seguimiento y control para garantizar que el fondo invierte continuamente al menos el 90% de su patrimonio en emisores presentes en el índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El MSCI World ex Europe ESG Leaders Index se basa en el MSCI World ex Europe Index.
El MSCI World ex Europe ESG Leaders Index es un índice ponderado por capitalización que proporciona exposición a empresas con un alto rendimiento medioambiental, social y de gobernanza (ASG) en relación con sus homólogas del sector. El MSCI World ESG Leaders Index se construye combinando los siguientes Índices regionales: MSCI Pacific ESG Leaders Index, MSCI Middle East ESG Leaders Index, MSCI Canada ESG Leaders Index y MSCI USA ESG Leaders Index. El Índice matriz, el MSCI World ex Europe Index, querefleja una representación de empresas de mediana y gran capitalización de 8 de 23 países de los Mercados Desarrollados*. El Índice está diseñado para inversores que buscan un índice de referencia de sostenibilidad amplio y diversificado con un error de seguimiento relativamente bajo respecto al mercado de renta variable subyacente. El Índice es miembro de la serie MSCI ESG Leaders Index. La selección de los componentes se basa en los datos de MSCI ESG Research.
* Los países de los Mercados Emergentes son: Australia, Canadá, EE. UU., Hong Kong, Israel, Japón, Nueva Zelanda y Singapur.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (https://www.msci.com/msci-esg-leaders-indexes).
El MSCI World ex Europe ESG Leaders pertenece a la familia de MSCI ESG Leaders Indexes.
Los MSCI ESG Leaders Indexes se construyen aplicando un proceso de selección best-in-class a las empresas de los índices regionales que componen el MSCI ACWI, un índice de renta variable mundial formado por países desarrollados y emergentes. Los ESG Leaders Indexes se marcan como objetivo ponderaciones sectoriales y regionales coherentes con las de los índices subyacentes para limitar el riesgo sistemático introducido por el proceso de selección ASG.
La metodología trata de incluir valores de empresas con las mejores calificaciones ASG que representen el 50% de la capitalización bursátil en cada sector y región del Índice matriz. Las empresas que no forman parte de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 3 o superior para ser admisibles. Los componentes actuales de los ESG Leaders deben tener una calificación MSCI ESG de «BB» o superior y una puntuación MSCI ESG Controversies de 1 o superior para ser admisibles. Además, quedan excluidas de los Índices las empresas que muestren una participación cualificada en los sectores del alcohol, el juego, el tabaco, la energía nuclear, las armas de fuego de uso civil, la extracción de combustibles fósiles, la energía térmica del carbón y las armas.
El universo de selección de los ESG Leaders Indexes son los componetes de los MSCI Global Investable Market Indexes.
El Índice está ponderado por la capitalización bursátil ajustada a la cotización.
La Revisión anual de los MSCI ESG Leaders Indexes tiene lugar en mayo, con un reajuste en agosto, noviembre y febrero.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Equity World Smart Volatility
Identificador de entidad jurídica: 549300KAINZSW5BOH873

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable de mercados desarrollados. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 35% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 35% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 35% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 35% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 35% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 35% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Euro Emerging Markets Bonds
Identificador de entidad jurídica: 549300EDRIJ1XFVMWO67

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales y corporativos emitidos en mercados emergentes, incluidos China y Rusia, y denominados en euros. Estas inversiones pueden tener una calificación inferior a grado de inversión, y en algunos casos pueden ser altamente especulativas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
cuenta los criterios para las actividades económicas medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - European Union Bonds
Identificador de entidad jurídica: 549300366AJ31ILIC151

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos con grado de inversión emitidos por la UE para financiar el crecimiento económico de sus estados miembros y otros objetivos de la UE. Estas inversiones están denominadas en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 25% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 25% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 25% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Flexible Allocation
Identificador de entidad jurídica: 549300ZNIKXW5UPBGN63

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable, bonos corporativos y gubernamentales denominados en cualquier divisa, así como en divisas. Estas inversiones pueden tener una calificación inferior a grado de inversión. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Flexible Europe Strategy
Identificador de entidad jurídica: 5493001D7WLFSLEQ8C47

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable europea. El fondo también podrá invertir de forma significativa en bonos corporativos y gubernamentales e instrumentos del mercado monetario denominados en euros. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 25% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 25% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 25% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 25% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Flexible US Strategy Identificador de entidad jurídica: 549300HDQIRP844RBU87

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable estadounidense. El fondo también podrá invertir en bonos corporativos y gubernamentales e instrumentos del mercado monetario denominados en dólares estadounidenses. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 20% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- evaluará el perfil ASG de las inversiones de su cartera mediante una metodología de puntuación ASG que cubre, al menos, el 90% del patrimonio neto total del fondo o de los emisores en cartera (excluidos los títulos de deuda de los Estados y el efectivo accesorio).
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 20% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 20% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 20% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Allocation Identificador de entidad jurídica: 391200HBUS3W15N38785

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, en una proporción equilibrada, en renta variable y en deuda pública y corporativa. Estas inversiones se realizan en cualquier parte del mundo, incluida China y los mercados emergentes. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 10% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC» asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 10% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI
ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 10% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores
cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones.
El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 50% (esperado) de las inversiones totales**.

Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 10% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Bond Identificador de entidad jurídica: 549300I3DB2Q17WKTF05

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales y corporativos denominados en cualquier divisa. Estas inversiones se realizan en cualquier parte del mundo, incluidos China, Rusia y otros mercados emergentes, y algunas pueden tener una calificación inferior a grado de inversión. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el
fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Bond Aggregate
Identificador de entidad jurídica: 549300ZL4856S1B0G535

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales y corporativos denominados en cualquier divisa. Estas inversiones se realizan en cualquier parte del mundo, incluidos China y otros mercados emergentes, y algunas pueden tener una calificación inferior a grado de inversión. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 50% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
cuenta los criterios para las actividades económicas medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Bond High Yield
Identificador de entidad jurídica: 549300IH6TQN70XDXQ40

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos con una calificación inferior a grado de inversión denominados en cualquier divisa. Estas inversiones se realizan en cualquier parte del mundo, incluidos China y otros mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
cuenta los criterios para las actividades económicas medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Bond Inflation Linked
Identificador de entidad jurídica: 5493006NFNURN7C0Z680

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos gubernamentales vinculados a la inflación denominados en cualquier divisa. Estas inversiones se realizan en cualquier parte del mundo, incluidos China y otros mercados emergentes, y algunas pueden tener una calificación inferior a grado de inversión. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
cuenta los criterios para las actividades económicas medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Cautious Allocation
Identificador de entidad jurídica: 391200PPGQHCZSODHP04

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en deuda pública y corporativa y, en menor medida, en renta variable. Estas inversiones se realizan en cualquier parte del mundo, incluida China y los mercados emergentes. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 5% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC» asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 5% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI
ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 5% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores
cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones.
El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 20% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Equity Infrastructure
Identificador de entidad jurídica: 549300SYG2YH766FGV02

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Huella de carbono: el fondo también trata de construir una cartera con una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia. La intensidad de carbono expresa la eficiencia de carbono de la cartera del fondo, y de su índice de referencia, midiendo el volumen de emisiones de carbono (en toneladas absolutas de CO2) por dólar de ventas generadas por emisores corporativos
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte. Huella de carbono: es decir, emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Ámbito 2) generadas por generado por los emisores en que se invierte expresadas como media ponderada de la intensidad de CO2 (respecto a sus ventas generadas) por la ponderación de cada emisor corporativo en cartera.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en valores de renta variable de empresas cuyas actividades están relacionadas con el sector de las infraestructuras, como la propiedad, gestión, construcción, operación y utilización de infraestructuras, o que financian esas actividades. Estas inversiones se realizan en cualquier parte del mundo, incluida China y otros mercados emergentes. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
El fondo también integra en su proceso de creación de cartera evaluaciones relativas a la medición de la intensidad de las emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Emisiones de dióxido de carbono (CO2) (Ámbito 2) generadas por emisores corporativos (por ventas generadas) para tratar de obtener una huella de carbono inferior a la de su índice de referencia.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la búsqueda de una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Global Multi Credit Identificador de entidad jurídica: 5493001INX5MYSRJTV14

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en una amplia gama de bonos corporativos y gubernamentales denominados en cualquier divisa. El fondo podrá invertir de forma significativa en bonos con calificación inferior a grado de inversión. Estas inversiones se realizan en cualquier parte del mundo, incluidos China, Rusia y otros mercados emergentes. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 5% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 5% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 5% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
Los dos gráficos que figuran a continuación muestran en verde el porcentaje mínimo de inversiones que se ajustan a la taxonomía de la UE. Dado que no existe una metodología adecuada para determinar la adaptación a la taxonomía de los bonos soberanos*, el primer gráfico muestra la adaptación a la taxonomía correspondiente para todas las
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
inversiones del producto financiero, incluidos los bonos soberanos, mientras que el segundo gráfico muestra la adaptación a la taxonomía solo en relación con las inversiones del producto financiero distintas de los bonos soberanos.
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales*** A efectos de estos gráficos, los «bonos soberanos» incluyen todas las exposiciones soberanas** La exposición a bonos soberanos puede variar a lo largo del tiempoLas actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 5% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web: Puede encontrarse más información específica sobre el producto en el sitio web: https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual relativa a los productos financieros a que se refieren el artículo 9, apartados 1 a 4 bis, del Reglamento (UE) 2019/2088 y el artículo 5, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Green Euro Credit Identificador de entidad jurídica: 549300X4GW71BE843C97

#### Objetivo de inversión sostenible

##### ¿Cuál es el objetivo de inversión sostenible de este producto financiero?
El objetivo de inversión sostenible de este producto financiero es superar el rendimiento de los mercados de bonos verdes corporativos en euros (medido por el Bloomberg MSCI Euro Corporate Green Bond 5% Capped Index), al tiempo que trata de lograr un efecto medioambiental positivo.
El objetivo de inversión sostenible se consigue mediante la inversión de al menos del 75% de la cartera en bonos verdes.
El fondo invierte principalmente en bonos corporativos con una calificación de grado de inversión denominados en euros que se emiten para financiar proyectos respetuosos con el clima y el medioambiente, como las energías renovables, la eficiencia energética, la prevención de la contaminación, los transportes limpios, la gestión del agua, la economía circular, la conservación de la biodiversidad y la construcción ecológica (bonos verdes). En concreto, el fondo invierte normalmente un mínimo del 75% de su patrimonio neto total en instrumentos de deuda o relacionados con ella que tengan el grado de inversión, incluidos los instrumentos del mercado monetario, emitidos para financiar proyectos respetuosos con la sociedad, el clima y el medio ambiente.
En particular, el proceso de selección de valores utiliza un programa de diligencia debida que se ajusta a los Principios de los Bonos Verdes (GBP) definidos por la Asociación Internacional de Mercados de Capitales (ICMA) y el estándar de bonos verdes de la Unión Europea (GBS) en vías de desarrollo. El proyecto subyacente a la emisión verde se somete a un análisis en profundidad con valoraciones objetivas y subjetivas. El proceso de análisis conlleva (i) un análisis objetivo de la finalidad de los proyectos financiados; y (ii) una valoración subjetiva de los métodos de gestión de los proyectos, la estructura organizativa del emisor, la huella medioambiental, con especial atención a la transparencia y la calidad de la información.
El seguimiento del objetivo de inversión sostenible del fondo se lleva a cabo verificando los límites fijados por su política de inversión tanto durante la preparación de las órdenes (el denominado control a priori) como durante la valoración de las carteras (el denominado control a posteriori).
La proporción mínima de inversiones sostenibles del fondo se calcula como la media ponderada de bonos verdes en cartera.
No obstante, el fondo no invierte en actividades económicas que pueden considerarse medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
Los indicadores de sostenibilidad miden cómo se logran los objetivos sostenibles de este producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir el logro del objetivo de inversión sostenible de este producto financiero?

Para medir el logro del objetivo de inversión sostenible de este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
Inversión de impacto: peso en el fondo de los bonos corporativos o valores gubernamentales emitidos exclusivamente para financiar proyectos respetuosos con el clima y el medioambiente, como las energías renovables, la eficiencia energética, la prevención de la contaminación, el transporte limpio, la gestión del agua, la economía circular, la conservación de la biodiversidad y la construcción ecológica (bonos verdes u otros instrumentos similares, como los bonos sociales y los bonos sostenibles).
- ¿De qué manera las inversiones sostenibles no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores
medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- 	Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).
- Proporción de consumo de energía no renovable: consumo por parte de las empresas en que se invierte de energía procedente de fuentes no renovables frente a fuentes renovables (como, por ejemplo, energía hidroeléctrica, eólica, solar o geotérmica, etc.) expresado como porcentaje del total de energía de cualquier fuente utilizada.
- Proporción de producción de energía no renovable: producción por parte de las empresas en que se invierte de energía procedente de fuentes no renovables frente a fuentes renovables (como, por ejemplo, energía hidroeléctrica, eólica, solar o geotérmica, etc.) expresado como porcentaje del total de energía de cualquier fuente producida.

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En un apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo tiene un objetivo de inversión sostenible para invertir normalmente un mínimo del 75% de su patrimonio neto en deuda e instrumentos relacionados con la deuda de categoría de inversión (investment grade), incluidos instrumentos del mercado monetario emitidos para financiar proyectos sociales y respetuosos con el clima y el medioambiente («Bonos verdes»). La parte restante de los activos del fondo puede invertirse en otros activos que no se consideran necesariamente sostenibles.
El fondo trata de lograr un efecto social o medioambiental cuantificable y positivo, junto con una rentabilidad financiera. El fondo excluye a aquellos emisores que no sigan buenas prácticas de gobierno.
Además, el análisis de los factores ASG es un elemento cualificador de la estrategia del fondo. El fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. La exclusión del sector del carbón térmico y el de las arenas bituminosas no es aplicable en el caso de las emisiones de bonos verdes, las cuales están destinadas a financiar la transición energética y a combatir el calentamiento global.
Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores
«críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
No existe una proporción mínima de inversiones en consonancia con ningún objetivo o actividad ambiental específica, por lo que la proporción mínima de inversiones sostenibles que contribuyen a los objetivos ambientales en virtud de la taxonomía de la UE es del 0%.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados a fin de seleccionar las inversiones para lograr el objetivo de inversión sostenible?

Los elementos vinculantes de la estrategia de inversión utilizados a fin de seleccionar las inversiones para lograr el objetivo de inversión sostenible son:
- para invertir normalmente un mínimo del 75% de su patrimonio neto en deuda e instrumentos relacionados con la deuda de categoría de inversión (investment grade), incluidos instrumentos del mercado monetario emitidos para financiar proyectos sociales y respetuosos con el clima y el medioambiente («Bonos verdes»);
- La exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables». La exclusión del sector del carbón térmico y el de las arenas bituminosas no es aplicable en el caso de las emisiones de bonos verdes, las cuales están destinadas a financiar la transición energética y a combatir el calentamiento global.
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»).

Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza. Dichos emisores se identifican entre los incluidos en los servicios
«MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
La actividad de supervisión de los emisores corporativos que no respetan las buenas prácticas de gobernanza se produce mediante exclusiones específicas que permiten tanto un control a priori, en el momento de la fase de precolocación de la orden, como un control a posteriori, en el momento de la valoración de la cartera.

##### ¿Cuál es la asignación de activos y la proporción mínima de inversiones sostenibles?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo tiene un objetivo de inversión sostenible e invierte normalmente un mínimo del 75% de su patrimonio neto en inversiones sostenibles (n.° 1 Sostenibles).
Las inversiones medioambientalmente sostenibles representan al menos el 75% de su patrimonio neto total. No se prevé ningún límite mínimo de inversión para las inversiones socialmente sostenibles.
El fondo puede invertir hasta un 25% de su patrimonio neto en otros activos que no se consideren necesariamente sostenibles (n.° 2 No sostenibles). No obstante, las inversiones de «n.° 2 No sostenibles» no impiden alcanzar el objetivo de inversión sostenible. Dada la naturaleza de estas inversiones, no son aplicables las garantías medioambientales o sociales mínimas.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) cualquier otro activo de acuerdo con la política de inversión del fondo; (ii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión de acuerdo con la política de inversión del fondo y su objetivo de inversión sostenible; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo, según se describe en el folleto informativo del fondo.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
- ¿De qué manera logra el uso de derivados el objetivo de inversión sostenible?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones de acuerdo con su política de inversión y su objetivo de inversión sostenible.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
No existe una proporción mínima de inversiones en consonancia con ningún objetivo o actividad ambiental específica, por lo que la proporción mínima de inversiones sostenibles que contribuyen a los objetivos ambientales en virtud de la taxonomía de la UE es del 0%.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No se prevé ningún límite mínimo de inversión para las inversiones en actividades de transición y facilitadoras.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
significativamente a un objetivo medioambiental.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
El fondo tiene un objetivo de inversión sostenible y las inversiones medioambientalmente sostenibles representan al menos el 75% de su patrimonio neto total.
El fondo podría invertir en actividades que contribuyan a un objetivo medioambiental definido en la taxonomía de la UE. Sin embargo, dichas inversiones no son decisivas per se para el logro del objetivo de inversión sostenible del fondo.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo social?
No aplicable. No se prevé ningún límite mínimo de inversión para las inversiones socialmente sostenibles.
¿Qué inversiones se incluyen en el «n.° 2 No sostenibles» y cuál es su propósito? ¿Existen garantías medioambientales o sociales mínimas?
El fondo tiene un objetivo de inversión sostenible e invierte normalmente un mínimo del 75% de su patrimonio neto en inversiones sostenibles.
Las inversiones medioambientalmente sostenibles representan al menos el 75% de su patrimonio neto total.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) cualquier otro activo de acuerdo con la política de inversión del fondo; (ii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión de acuerdo con la política de inversión del fondo y su objetivo de inversión sostenible; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo, según se describe en el folleto informativo del fondo.
No obstante, las inversiones de «n.° 2 No sostenibles» no impiden alcanzar el objetivo de inversión sostenible. Dada la naturaleza de estas inversiones, no son aplicables las garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice de referencia específico para cumplir el objetivo de inversión sostenible?
El índice específico que se ha designado como índice de referencia para cumplir el objetivo de inversión sostenible del fondo es el siguiente: 100% Bloomberg MSCI Euro Corporate Green Bond 5% Capped Index.
Los índices de referencia son índices que miden si el producto financiero logra el objetivo de inversión sostenible.
- ¿Cómo tiene en cuenta el índice de referencia los factores de sostenibilidad de forma que esté ajustado continuamente al objetivo de inversión sostenible?

El índice de referencia tiene en cuenta los factores de sostenibilidad de forma que esté ajustado continuamente con el objetivo de inversión sostenible del fondo, ya que mide el rendimiento de los bonos verdes denominados en euros (un segmento del
mercado de los bonos corporativos).
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

El ajuste de la estrategia de inversión a la metodología del índice se garantiza de forma continua, ya que la exposición del fondo a valores y, por lo tanto, a su rentabilidad, podrán diferir ligeramente de las del índice de referencia.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

El Bloomberg MSCI Euro Corporate Green Bond 5% Capped Index se basa en el Bloomberg Euro Corporate Aggregate Index y está diseñado para inversores que buscan generar un impacto social positivo a través de sus inversiones.
El índice incluye bonos verdes, que son valores de renta fija cuyos ingresos se dedicarán exclusiva y formalmente a proyectos o actividades que promuevan el clima u otros fines de sostenibilidad medioambiental mediante el uso de sus ingresos. El uso de los ingresos y los bonos para proyectos se consideran admisibles si el uso de los ingresos se enmarca en al menos una de las siete categorías medioambientales admisibles definidas por MSCI ESG Research (energía alternativa, eficiencia energética, prevención y control de la contaminación, agua sostenible, construcción ecológica, adaptación al clima y otras).
El índice ofrece a los inversores una medida objetiva y sólida del mercado de valores de renta fija emitidos para financiar proyectos con beneficios medioambientales directos.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

Para más información sobre la metodología utilizada para calcular el índice designado, consulte la metodología que se describe en el sitio web del proveedor del índice (
https://www.msci.com/our-solutions/indexes/bloomberg-msci-esg-fixed-income-indexes).

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Italian Equity Opportunities
Identificador de entidad jurídica: 549300E7MMZJW0KMF648

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable italiana, con énfasis en la renta variable de empresas de pequeña y mediana capitalización. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 45% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 45% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 45% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 45% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Money Market EUR T1
Identificador de entidad jurídica: 549300WLXFZTHGSYM814

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
Sovereign ESG integration: el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados. Sovereign ESG integration: porcentaje de activos invertidos en emisores gubernamentales que superen la selección basada en (i) los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 ODS promovidos por la ONU, los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos, así como (ii) las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, Ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).
- Países receptores de la inversión sujetos a infracciones sociales: presencia de infracciones sociales en cada país en relación con tratados internacionales, los principios de la ONU o normativas locales.

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en bonos a corto plazo de alta calidad con calificación de grado de inversión. Estas inversiones están denominadas principalmente en euros. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

Además, el fondo adopta procesos de selección de emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u
«ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos; además, se realiza un seguimiento de las principales incidencias adversas medioambientales y sociales sobre los emisores gubernamentales. Este objetivo se alcanza invirtiendo al menos el 70% de los activos en dichos emisores.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la inversión de como mínimo el 70% de su patrimonio neto en emisores gubernamentales que utilizan los indicadores proporcionados por el denominado «Informe de Desarrollo Sostenible», que evalúa los progresos realizados por cada país en la consecución de los 17 objetivos de desarrollo sostenible (es decir: los «Objetivos de Desarrollo Sostenible» u «ODS») promovidos por las Naciones Unidas y también tiene en cuenta los efectos indirectos potencialmente negativos con respecto a la consecución de dichos objetivos
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - SLJ Local Emerging Markets Debt
Identificador de entidad jurídica: 5493003GXX4SNDCOBJ07

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 22019/ 2088.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/ 2088.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 20019/2088.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

No aplicable. El fondo no persigue un objetivo de inversión sostenible en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).
Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en bonos gubernamentales emitidos en mercados emergentes, incluidos China y Rusia, y denominados en cualquier moneda local. Estas inversiones pueden tener una calificación inferior a grado de inversión, y en algunos casos pueden ser altamente especulativas. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 30% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
El fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles.
cuenta los criterios para las actividades económicas medioambientalmente sostenibles con arreglo a la taxonomía de la UE.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
No aplicable. El fondo promueve características medioambientales y/o sociales, pero no se compromete a realizar inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web: Puede encontrarse más información específica sobre el producto en el sitio web: https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Sustainable Global Equity
Identificador de entidad jurídica: 549300RNJ0W1IVOBL073

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Huella de carbono: el fondo también trata de construir una cartera con una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia. La intensidad de carbono expresa la eficiencia de carbono de la cartera del fondo, y de su índice de referencia, midiendo el volumen de emisiones de carbono (en toneladas absolutas de CO2) por dólar de ventas generadas por emisores corporativos
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte. Huella de carbono: es decir, emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Ámbito 2) generadas por generado por los emisores en que se invierte expresadas como media ponderada de la intensidad de CO2 (respecto a sus ventas generadas) por la ponderación de cada emisor corporativo en cartera.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de
dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales, sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable. Estas inversiones se realizan en cualquier parte del mundo. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
El fondo también integra en su proceso de creación de cartera evaluaciones relativas a la medición de la intensidad de las emisiones de dióxido de carbono (CO2) directas (es decir, Ámbito 1) e indirectas (es decir, Emisiones de dióxido de carbono (CO2) (Ámbito 2) generadas por emisores corporativos (por ventas generadas) para tratar de obtener una huella de carbono inferior a la de su índice de referencia.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 50% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No
obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la búsqueda de una intensidad de carbono ponderada inferior (según MSCI ESG Research) a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 50% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 50% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web:
https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Sustainable Japan Equity
Identificador de entidad jurídica: 5493004XOURTUGX04P73

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
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##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable japonesa. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 50% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 50% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 50% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 50% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web: Puede encontrarse más información específica sobre el producto en el sitio web: https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Sustainable Multiasset
Identificador de entidad jurídica: 549300N5ZO5BP5ICOJ03

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente, de manera directa o a través de derivados, en renta variable, bonos corporativos y gubernamentales denominados en cualquier divisa, así como en divisas. Estas inversiones pueden tener una calificación inferior a grado de inversión. Estas inversiones se realizan en cualquier parte del mundo, incluidos los mercados emergentes. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la de su universo de inversión, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 30% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su universo de inversión
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 30% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 30% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 30% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web: Puede encontrarse más información específica sobre el producto en el sitio web: https://www.eurizoncapital.com/en/our-offer/documentation
Plantilla para la información precontractual de los productos financieros a que se refieren el artículo 8, apartados 1, 2 y 2 bis, del Reglamento (UE) 2019/2088 y el artículo 6, párrafo primero, del Reglamento (UE) 2020/852
Nombre del producto: Eurizon Fund - Top European Research
Identificador de entidad jurídica: 222100EYOSQCH55BIZ36

#### Características medioambientales o sociales

##### ¿Qué características medioambientales o sociales promueve este producto financiero?
El fondo promueve características medioambientales y sociales invirtiendo en valores de emisores con características ASG favorables. Las características ASG favorables se determinan como sigue:
ESG Score integration: de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una
«puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones.
Titularidad activa - implicación: el fondo promueve una implicación proactiva con los emisores mediante el ejercicio de los derechos de participación y voto y mediante la implicación con las empresas en las que invierte promoviendo una comunicación efectiva con la dirección de las empresas.
Exclusión de sectores: el fondo no invierte en emisores que operen en sectores considerados «no social y medioambientalmente responsables».
Exclusión de emisores: el fondo no invierte en emisores «críticos» (es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija) para los que se activa un proceso de escalamiento.
Los indicadores de sostenibilidad miden cómo se alcanzan las características medioambientales o sociales que promueve el producto financiero.
- ¿Qué indicadores de sostenibilidad se utilizan para medir la consecución de cada una de las características medioambientales o sociales promovidas por este producto financiero?

Para medir la consecución de cada una de las características medioambientales o sociales que promueve este producto financiero se utilizan los siguientes indicadores de sostenibilidad:
Titularidad activa: consulte el «Informe sobre la participación en juntas de accionistas de sociedades con valores en cartera de Eurizon Capital S.A.» disponible en https://www.eurizoncapital.com/en/sustainability/stewardship-policy
Exclusión de sectores: ponderación en el fondo de emisores de sectores considerados no «social y medioambientalmente responsables», identificados a partir de datos facilitados por proveedores de información ASG y de ISR especializados.
Exclusión de emisores: ponderación en el fondo de emisores con una alta exposición a los riesgos medioambientales, sociales y de gobierno corporativo (ASG) (es decir: emisores «críticos»), identificados a partir de datos facilitados por proveedores de información ASG especializados.
ESG Score integration: «Puntuación ASG» del fondo determinada por el proveedor de información ASG especializado MSCI ESG Research sobre la base del perfil medioambiental, social y de gobernanza de las empresas en las que invierte.
Las inversiones sostenibles se definen como inversiones en emisores que contribuyen, mediante sus propios productos y servicios o procesos de producción, a la consecución de los ODS promovidos por las Naciones Unidas; y (ii) inversiones en bonos cuyos ingresos están destinados a financiar proyectos medioambientales y/o sociales (bonos verdes/sociales/etiquetados como sostenibles).
El grado de adaptación de un emisor a los ODS se evalúa mediante una metodología interna que utiliza los datos facilitados por el proveedor de información especializado MSCI ESG Research; en concreto, la metodología asigna, para cada ODS, una puntuación específica (en una escala de -10 «Muy poco adaptado» a +10 «Muy adaptado») a la «Adaptación del producto» de un emisor (que estima los ingresos derivados de los productos y servicios que cumplen el ODS correspondiente e identifica los productos y servicios que determinan impactos potencialmente negativos con respecto a la consecución de los ODS, lo que se denomina «adaptación neta») y la «Adaptación operativa» (que examina el grado en que los procesos de producción de las empresas emisoras incluidas las políticas internas, objetivos y prácticas aplicadas están adaptados a ODS específicos).
Los emisores que obtienen puntuaciones iguales o inferiores a -2 se consideran «No adaptados»; es necesaria una puntuación igual o superior a 2 para ser evaluados como «Adaptados».
Una empresa puede considerarse «sostenible» si el emisor tiene al menos un ODS con una puntuación igual a
«Adaptado» o «Muy adaptado» y ningún ODS con una puntuación igual a «No adaptado» o «Muy poco adaptado».
Por tanto, la proporción mínima de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
- ¿Cuáles son los objetivos de las inversiones sostenibles que el producto financiero pretende en parte lograr y de qué forma contribuye la inversión sostenible a dichos objetivos?

Eurizon Capital S.A. ha adoptado una metodología para la selección de inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por las Naciones Unidas. Esta metodología pretende seleccionar instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los ODS (cuyo objetivo es fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medio ambiente natural y respuestas a los principales problemas sociales) a través de sus propios productos y servicios o procesos de producción, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. El fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de los objetivos medioambientales del fondo.
- ¿De qué manera las inversiones sostenibles que el producto financiero pretende en parte realizar no causan un perjuicio significativo a ningún objetivo de inversión sostenible medioambiental o social?

Eurizon Capital S.A. selecciona instrumentos emitidos por empresas cuyas actividades contribuyan a uno o varios de los objetivos de desarrollo sostenible, como los Objetivos de Desarrollo sostenible (ODS) promovidos por las Naciones Unidas, siempre que (i) dichas inversiones no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) las empresas beneficiarias de dichas inversiones cumplan las prácticas de buen gobierno. En particular, la contribución a uno o más de los objetivos de desarrollo sostenible se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
Las principales incidencias adversas son las incidencias negativas más importantes de las decisiones de inversión sobre los factores de sostenibilidad en relación con asuntos medioambientales,
- ¿Cómo se han tenido en cuento los indicadores de incidencias adversas sobre los factores de sostenibilidad?

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo.
sociales y laborales, el respeto de los derechos humanos y la lucha contra la corrupción y el soborno.
Aunque los efectos negativos de las decisiones de inversión sobre los factores de sostenibilidad deben considerarse en función de la diferente gama de activos, zonas geográficas y sectores a los que se exponen los productos gestionados, Eurizon Capital S.A. considera que una supervisión adecuada de la exposición a cuestiones sociales y medioambientales es prioritaria para mitigar los posibles efectos negativos de sus inversiones.
En concreto, la metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias.
- ¿Cómo se ajustan las inversiones sostenibles a las Líneas Directrices de la OCDE para Empresas Multinacionales y los Principios rectores de las Naciones Unidas sobre las empresas y los derechos humanos?

La metodología para seleccionar inversiones sostenibles basada en los Objetivos de Desarrollo Sostenible (ODS) promovidos por Naciones Unidas y adoptados por Eurizon Capital S.A. considera las principales incidencias adversas mediante parámetros cuantitativos y cualitativos como, por ejemplo, la exposición del emisor a eventuales controversias. En este contexto, Eurizon Capital S.A. evalúa, por ejemplo, la implicación de los emisores en polémicas relacionadas con los derechos humanos, los derechos de los trabajadores y la propia conducta empresarial.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de no perjudicar de forma significativa» se aplica únicamente a las inversiones subyacentes del producto financiero que contemplan los criterios de la UE relativos a actividades económicas sostenibles desde una perspectiva medioambiental. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social.

##### ¿Tiene en cuenta este producto financiero las principales incidencias adversas sobre los factores de sostenibilidad?
🗵 
Sí, la identificación de los principales efectos negativos de las opciones de inversión sobre los factores de sostenibilidad y la definición de las acciones de mitigación correspondientes forman parte integrante del enfoque en materia de sostenibilidad de Eurizon Capital S.A. Eurizon ha adoptado un marco específico que prevé indicadores medioambientales, sociales y de gobernanza específicos para la evaluación de los efectos negativos sobre la sostenibilidad derivados de las inversiones en función de las características y los objetivos de los distintos productos financieros, que prevén el uso de:
- selección negativa de factores de ISR y ASG, con el fin de mitigar los riesgos de exposición a empresas que operan en sectores considerados no «socialmente responsables» (incluida, en particular, la exposición al sector de los combustibles fósiles y al sector de las armas no convencionales) o caracterizados por una gobernanza medioambiental, social o corporativa crítica;
- integración positiva de los factores ASG en el análisis, la selección y la composición de las carteras financieras (Puntuación ASG).

Sobre la base de los controles que definió, Eurizon Capital S.A. tiene indicadores medioambientales y sociales específicos para la evaluación de las principales incidencias adversas sobre la sostenibilidad determinados por las actividades de inversión del fondo, según se indica a continuación.
Los indicadores aplicables a las inversiones en valores de empresas son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI) de las empresas en las que se invierte: intensidad de las emisiones directas de GEI que se producen a partir de fuentes controladas o de las que se es propietario (es decir, ámbito 1) y de las emisiones indirectas de GEI a partir de la generación de la electricidad consumida comprada (es decir, ámbito 2) de cada empresa en la que se invierte por millón de euros de ventas generado;
- Exposición a empresas de combustibles fósiles: inversiones en empresas que generan ingresos de la exploración y extracción de minerales, o de cualquier otra actividad extractiva, de la producción, procesamiento, refinamiento, distribución (incluido el transporte), el almacenamiento y el comercio de combustibles fósiles;
- Actividades que afectan negativamente a zonas sensibles en cuanto a la biodiversidad: inversiones en empresas con sedes u operaciones ubicadas en zonas sensibles en cuanto a la biodiversidad o cerca de ellas cuando las actividades de dichas empresas afectan negativamente a esas zonas;
- Diversidad de género del consejo de administración: proporción media entre el número de mujeres y hombres en el órgano de administración, dirección o supervisión de las empresas en las que se invierte, expresada en porcentaje del total de posiciones;
- Exposición a armas controvertidas: inversión en empresas relacionadas con la fabricación o la venta de armas no convencionales (incluidas, en particular, minas antipersonas, municiones de racimo, armas químicas y biológicas).

Los indicadores aplicables a las inversiones en valores de entidades soberanas y supranacionales son los siguientes:
- Intensidad de las emisiones de gases de efecto invernadero (GEI): intensidad de las emisiones directas de GEI (es decir, Ámbito 1) que se producen a partir de las actividades económicas y las emisiones indirectas de GEI de electricidad consumida en otros lugares (es decir, ámbito 2) de cada país por millón de euros de producto interior bruto (PIB).

En el mejor interés de sus propios productos financieros, Eurizon Capital S.A. se compromete (i) a continuar desarrollando sus propias Políticas de sostenibilidad; y (ii) a activar acciones específicas de compromiso con respecto a los emisores que muestren desviaciones significativas de indicadores medioambientales, sociales y de gobernanza específicos o que muestren efectos negativos significativos en varios indicadores, con el objetivo de dirigirlos hacia la mejora de sus prácticas de sostenibilidad, evaluando, solo como último recurso, la enajenación de sus inversiones.
En el apartado específico del informe anual del fondo se proporcionará información adicional sobre los indicadores principales incidencias adversas.
U 
No

##### ¿Qué estrategia de inversión sigue este producto financiero?
La estrategia de inversión orienta las decisiones de inversión sobre la base de factores como los objetivos de inversión y la tolerancia al riesgo.
El fondo invierte principalmente en renta variable europea. Por lo general, el fondo opta por la inversión directa, pero ocasionalmente podrá invertir a través de derivados. Para más información sobre la política de inversión del fondo, consulte el folleto.
El análisis de los factores ASG es un elemento cualificador de la estrategia del fondo.
El fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

En efecto, de conformidad con las prácticas de buena gobernanza, el fondo aspira a obtener una «puntuación ASG» (calculada para el conjunto de la cartera) superior a la del índice de referencia correspondiente, mediante la integración de factores ASG en el análisis, la selección y la composición de sus inversiones. La puntuación ASG es representativa de las oportunidades y riesgos medioambientales, sociales y de gobierno corporativo a los que está expuesto un emisor y tiene en cuenta la gestión de estos riesgos por parte del emisor. La puntuación ASG del fondo se calcula como la media ponderada de las puntuaciones ASG de los emisores de los instrumentos financieros mantenidos en la cartera del fondo.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas. Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/ 852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
- ¿Cuáles son los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve este producto financiero?

Los elementos vinculantes de la estrategia de inversión utilizados para seleccionar las inversiones dirigidas a lograr cada una de las características medioambientales o sociales que promueve el fondo son:
- el fondo evaluará el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos:
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario)
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario)
- la búsqueda de una puntuación ASG superior a la de su índice de referencia
- la exclusión del universo de inversión del fondo de los emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas
- la exclusión del universo de inversión del fondo de empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior (igual a «CCC») asignado por el proveedor de información especializado MSCI ESG Research) («emisores críticos»)
- una proporción mínima del 40% de inversiones sostenibles
- ¿Cuál es el porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la aplicación de dicha estrategia de inversión?

No hay un porcentaje mínimo comprometido para reducir la magnitud de las inversiones consideradas antes de la estrategia de inversión del fondo.
Las prácticas de buena gobernanza incluyen las estructuras de buena gestión, las relaciones con los trabajadores, la remuneración del personal y el cumplimiento de las obligaciones fiscales.
- ¿Cuál es la política para evaluar las prácticas de buena gobernanza de las empresas en las que se invierte?

Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos.

##### ¿Cuál es la asignación de activos prevista para este producto financiero?
La asignación de activos describe el porcentaje de inversiones en activos específicos.
El fondo promueve características medioambientales y/o sociales.
Las inversiones ajustadas a características medioambientales o sociales tienen una proporción mínima del 80% del patrimonio del fondo (n.° 1 Ajustadas a características medioambientales o sociales).
Además, se le informa de que el fondo evalúa el perfil ASG de las inversiones de la cartera mediante una metodología de puntuación ASG que cubre, al menos, (expresado en porcentajes del patrimonio neto del fondo o emisores que conforman la cartera):
- 90% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países desarrollados, así como títulos de deuda con grado de inversión (incluidos los instrumentos del mercado monetario).
- 75% de las inversiones en cada una de las siguientes clases de activos: renta variable de empresas de gran capitalización y deuda soberana de países emergentes, renta variable de empresas de pequeña y mediana capitalización, así como títulos de deuda con una calificación inferior a grado de inversión (incluidos los instrumentos del mercado monetario).

El fondo tendrá una proporción mínima del 40% de inversiones sostenibles (n.° 1A Sostenibles). El fondo tendrá una proporción mínima del 1% de inversiones sostenibles con un objetivo medioambiental (Otras medioambientales) y un 1% de inversiones socialmente sostenibles (Sociales). Las inversiones sostenibles se definen como inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos
cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/ 2088; y (ii) cumplan las prácticas de buena gobernanza.
Los ODS promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales. La contribución de un emisor a uno o más de los ODS se evalúa sobre la base de parámetros seleccionados, incluida la exposición a controversias, que miden las incidencias adversas potencialmente causados por el emisor.
La proporción de inversiones sostenibles se calcula como la suma de: (i) inversiones en emisores que tengan, con referencia a sus propios productos y servicios o procesos de producción, una «adaptación neta» positiva con al menos 1 de los 17 ODS y ninguna «no adaptación neta» con ninguno de los 17 ODS, e (ii) inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales en relación con todas las inversiones.
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.
- ¿Cómo logra el uso de derivados las características medioambientales o sociales que promueve el producto financiero?

El fondo podrá utilizar derivados para reducir los riesgos (cobertura) y los costes, así como para obtener exposición adicional a las inversiones. El fondo no utiliza derivados para alcanzar las características medioambientales o sociales que promueve.
¿En qué medida, como mínimo, las inversiones sostenibles con un objetivo medioambiental se ajustan a la taxonomía de la UE?
El fondo promueve características medioambientales y/o sociales, y se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Para ajustarse a la taxonomía de la UE, los criterios correspondientes al gas fósil incluyen limitaciones de emisiones y el paso a la energía renovable o combustibles bajos en carbono de aquí al fin de 2035. Por lo que respecta a la energía nuclear, los criterios incluyen normas exhaustivas de seguridad y gestión de residuos.
- ¿Invierte el producto financiero en actividades relacionadas con el gas fósil y/ola energía nuclear que se ajustan a la taxonomía de la UE? 

1
U 
Sí:
U 
En gas fósil 
U 
En energía nuclear
🗵 
No
Las actividades que se ajustan a la taxonomía se expresan como un porcentaje de:
- El volumen de negocios, que refleja la proporción de ingresos procedentes de actividades ecológicas de las empresas en las que se invierte.
- La inversión en activo fijo, que muestra las inversiones ecológicas realizadas por las empresas en las que se invierte, por ejemplo, para la transición a una economía verde.
- Los gastos de explotación, que reflejan las actividades operativas ecológicas de las empresas en las que se invierte.
- Ajuste a la taxonomía de las inversiones incluidos los bonos soberanos*0.0%
- Ajuste a la taxonomía de las inversiones excluidos los bonos soberanos*0.0%
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía
- Ajustadas a la taxonomía (sin gasfósil ni energía nuclear)
- No ajustadas a la taxonomía100.0%100.0%Este gráfico representa el 100% (esperado) de las inversiones totales**Las actividades facilitadoras permiten de forma directa que otras actividades contribuyan significativamente a un objetivo medioambiental.
- ¿Cuál es la proporción mínima de inversiones en actividades de transición y facilitadoras?

No aplicable, teniendo en cuenta que la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%.
Las actividades de transición son actividades para las que todavía no se dispone de alternativas con bajas emisiones de carbono y que, entre otras cosas, tienen niveles de emisión de gases de efecto invernadero que se corresponden con los mejores resultados.
1 
Las actividades relacionadas con el gas fósil y/o la energía nuclear solo se ajustarán a la taxonomía de la UE cuando contribuyan a limitar el cambio climático («mitigación del cambio climático») y no causen un perjuicio significativo a ningún objetivo de la taxonomía de la UE; véase la nota explicativa en el margen izquierdo. Los criterios completos correspondientes a las actividades económicas del gas fósil y la energía nuclear que se ajustan a la taxonomía de la UE se establecen en el Reglamento Delegado (UE) 2022/1214 de la Comisión.
¿Cuál es la proporción mínima de inversiones sostenibles con un objetivo medioambiental no ajustadas a la taxonomía de la UE?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones sostenibles con un objetivo medioambiental porque la estrategia de inversión del fondo no tiene un objetivo de inversión medioambiental específico.
Por consiguiente, la proporción mínima de inversiones sostenibles con un objetivo medioambiental es del 1%.
¿Cuál es la proporción mínima de inversiones socialmente sostenibles?
A pesar de que el fondo no tiene un objetivo de inversión sostenible, se compromete a tener una proporción mínima del 40% de inversiones sostenibles en el sentido del art. 2(17) del Reglamento (UE) 2019/2088.
Aunque la suma de las inversiones sostenibles con un objetivo medioambiental y las inversiones socialmente sostenibles equivale a la proporción mínima de inversiones sostenibles del fondo, existe un compromiso con una proporción mínima reducida de inversiones socialmente sostenibles porque la estrategia de inversión del fondo no tiene un objetivo de inversión socialmente sostnible específico.
Por consiguiente, la proporción mínima de inversiones socialmente sostenibles es del 1%.
¿Qué inversiones se incluyen en el «n.° 2 Otras» y cuál es su propósito?
¿Existen garantías medioambientales o sociales mínimas?
Las siguientes inversiones se incluyen en «n.° 2 Otras»: (i) inversiones potenciales en emisores sin puntuación ASG; (ii) derivados para reducir riesgos (cobertura) y costes, y para obtener exposición adicional a la inversión; (iii) activos líquidos para cubrir pagos corrientes o excepcionales, o durante el tiempo necesario para reinvertir en activos admisibles; (iv) instrumentos y técnicas utilizados únicamente para una gestión eficiente del fondo.
Para las inversiones incluidas en «n.° 2 Otras», no existen garantías medioambientales o sociales mínimas.

##### ¿Se ha designado un índice específico como índice de referencia para determinar si este producto financiero está en consonancia con las características medioambientales o sociales que promueve?
No se ha designado un índice específico como índice de referencia para determinar si el fondo está en consonancia con las características medioambientales o sociales que promueve.
Los índices de referencia son índices para medir si el producto financiero logra las características medioambientales o
sociales que promueve.
- ¿Cómo se ajusta de forma continua el índice de referencia a cada una de las características medioambientales o sociales que promueve el producto financiero?

No aplicable.
- ¿Cómo se garantiza el ajuste de la estrategia de inversión con la metodología del índice de manera continua?

No aplicable.
- ¿Cómo difiere el índice designado de un índice general de mercado pertinente?

No aplicable.
- ¿Dónde puede encontrarse la metodología utilizada para el cálculo del índice designado?

No aplicable.

##### ¿Dónde se puede encontrar más información en línea específica sobre el producto?
Puede encontrarse más información específica sobre el producto en el sitio web: Puede encontrarse más información específica sobre el producto en el sitio web: https://www.eurizoncapital.com/en/our-offer/documentation