AUSTRALIA - The Enhanced Analytics Initiative's (EAI) assets under management grew to €1.85trn (US$2.4trn) as it welcomed two new Australian superannuation associate members.
The AUS$12bn (US$9.8bn) HESTA super fund and AUS$5.1bn (US$4.1bn) VicSuper joined the group which encourages investment research into the impact of extra-financial issues on long term company performance.
EAI chairman, David Blood, said: “It is particularly pleasing to note the growing international appeal of the initiative which clearly shows that the desire to see better long term investment research is a priority issue for asset owners and their managers throughout the world.”
HESTA executive manager for investments and governance, Rob Fowler, said: “HESTA believes it is essential to make it attractive for research analysts to holistically incorporate material, extra-financial issues in to their analysis of companies.”
In March, Pensions Investments Research Consultancy (PIRC) joined the initiative which, according to Blood is expected to achieve its aims and disband in the next two or three years.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.