A multilayer reflective film or multilayer reflective pigment comprising at least one reflective layer and at least one circular polarizing layer, said circular polarizing layer comprising a linear polarizing layer and a quarter wave retardation layer, wherein said linear polarizing layer comprises a vitrified, polymerized or crosslinked liquid crystal material with planar orientation and/or said quarter wave retardation layer comprises a vitrified, polymerized or crosslinked liquid crystal material with planar or tilted orientation, and whereby said film or pigment selectively reflects light dependent on the viewing angle.