UK - The £33bn BT Pension Scheme today announced its decision to join the Enhanced Analytics Initiative (EAI) as an associate member.
The news follows the announcement on 13 December that the e187bn Stichting Pensioenfonds ABP had decided to join the initiative.
EAI is an international collaboration between asset owners and asset managers aimed at encouraging investment research into the impact of extra-financial issues on long-term company performance. Its total assets under management now exceed e656bn.
Sir Tim Chessells, chairman of the BT scheme’s Board of Trustees, said: “We are pleased to lend our support to this important initiative which we believe will assist the BT Pension Scheme's fund managers in maximising the long term value of the scheme's assets.
As an associate member of EAI, the BT scheme will actively encourage its external asset managers to take part in the initiative, or implement similar practices.
The principal fund manager of the BT Pension Scheme is Hermes Pensions Management Limited, which is wholly-owned by the scheme and is already a full member of the EAI.
David Blood, lead director of EAI and managing partner of Generation Investment Management, said: “The EAI was founded to incentivise the investment research community to better analyse material extra-financial issues and intangibles.
Current EAI members include AGF Asset Management, BNP Paribas Asset Management, Hermes Pension Management, Mistra, PGGM, RCM, Trades Union Congress, Superannuation Society and the Universities Superannuation Scheme.
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