For over twenty years, Banor has been adopting and developing a value investing strategy, based on a solid and in-depth knowledge of companies, in order to identify high-quality businesses while also assessing their ability to manage and mitigate sustainability-related risks. For Banor, it is crucial to integrate environmental, social, and corporate governance (ESG) criteria into the issuer selection process: only in this way can long-term value be created and a positive impact on society and the environment be promoted.
OUR STRATEGY
ESG APPROACH
Banor complements traditional economic analyses with sustainability considerations, so that environmental, social and governance factors that could negatively impact the value of the investment can be identified and monitored.
As a first step in the investment process, we limit the investable universe by excluding issuers whose activities or practices are considered detrimental for the environment and for human rights. The aim is to avoid investments exposed to high sustainability risks.
Secondly, the investment team adopts a best-in-class approach (also known as positive screening): we select only the companies that overcome a defined ranking hurdle, based on the ESG rating provided by an industry leading ESG data provider.
SFDR DISCLOSURE
Banor Capital mission is to generate positive risk adjusted returns with responsibility through fundamental analysis, operational excellence, and by being ESG-proactive. By ESG-proactive we mean the integration of environmental, social and governance (ESG) issues into our investment processes and product development. The SFDR – Sustainable Finance Disclosure Regulation – requires fund managers such as Banor Capital as an Alternative Investment Fund Manager (“AIFM”) to provide information to investors regarding the integration of sustainability risks, the consideration of adverse sustainability impacts, the promotion of environmental or social characteristics, and sustainable investment.
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FUNDS PROMOTING ENVIRONMENTAL AND SOCIAL CHARACTERISTICS
Banor Capital is the investment manager of several funds compliant with the Article 8 of the EU regulation 2019/2088 on sustainability reporting in the financial services sector (“SFDR”), as they promote, among other characteristics, environmental or social ones, or a combination of both.
BANOR SICAV EURO BOND ABSOLUTE RETURN
European Bonds
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
The strategy focuses on the European Credit market, with a duration exposure below 3 years and an average credit exposure in the BBB-BB range. The bottom-up selection process incorporates an ESG consideration with a “best-in- class” approach. More info →
Through the Banor SICAV Euro Bond Absolute Return Fund, Banor is donating up to 40% of management fees to the Italian Committee for UNICEF Onlus Foundation* to support the “Fighting Child Mortality” campaign.
* The Italian Commitee for UNICEF Onlus Foundation does not promote any products or services.
BANOR SICAV EUROPEAN DIVIDEND PLUS
European Equities
Investment Manager: Gianmarco Rania, Head of Equities at Banor Capital
A Long only fund managed using the value approach with active exposure to the European recovery. The portfolio is built up from the fundamentals, with the aim of creating a balance between growth potential and capital preservation. Derivatives for hedging are only occasionally used, to reduce portfolio volatility. More info →
BANOR SICAV MISTRAL L/S EQUITY
Value Long Short Equities – Europe and USA
Advisor: Luca Riboldi, CIO at Banor SIM with 30 years of experience and Angelo Meda, Head of Equities and ESG Research at Banor SIM
A fund managed “bottom-up” with focus on fundamentals, a long-term view and a relatively diversified portfolio to grasp the best opportunities and generate alpha. Investment ideas are generated by managers’ experience and company meetings. We perform rigorous analysis and on field due diligence. More info →
BANOR SICAV VOLTA L/S EQUITY
Equity long short focusing on the global energy transition
Advisor: Will Smith, co-CIO of Westbeck Capital, asset management company based in London and founded in June 2016
The long/short strategy takes advantage of cyclicality in each segment. The portfolio is based on a fundamental industry analysis, a repeatable investment process and is concentrated on core holdings as well as opportunistic trading positions. The aim is to balance growth potential with capital preservation. More info →
INITIATIVES
CHILDREN’S RIGHTS
Banor’s commitment to UNICEF extends beyond its contribution through the Euro Bond fund. Throughout the year, Banor remains actively engaged in supporting initiatives that uphold children’s rights such as the Advent Calendar in collaboration with Corriere della Sera and the recent campaigns in favour of humanitarian emergencies in Ukraine, Turkey and Syria.
ENVIRONMENT
Since 2019 Banor has chosen to support the non-profit organization Marevivo Onlus, which has been defending the sea and its resources for ever thirty years. Among the most recent actions: the adoption of two beaches, beach and seabed cleaning activities, positioning of signs to raise awareness of respect for the environment.
SPORT
In 2024, for the sixth consecutive year, Banor has renewed its partnership in the world of sailing with ClubSwan Racing and is the main partner of the Swan One Design Nations League circuit.
CULTURE
Banor has been a sponsor of two editions of FILL, the Festival of Italian Literature in London, to spread Italian culture abroad through the organisation of meetings with writers, workshops and readings.