Investec Asset Management joined Enhanced Analytics Initiative, an international coalition of pension funds, money managers and other institutional investors committing 5% of their annual brokerage commissions to encourage investment research that considers the impact of extra-financial issues, including environmental and corporate governance, on long-term company performance.
As an EAI member, Investec, which manages £31.7 billion ($59.8 billion), will allocate the 5% to the research organizations that best analyze extra-financial issues affecting corporate performance, , according to a joint statement from Investec and EAI.
"Our membership of the EAI will focus in particular on the improvement of research coverage of African markets," Hendrik du Toit, Investec CEO, said in the statement. "We are confident that this would contribute to the development of the continent's financial markets, which will ultimately not only result in increased investment into Africa but a better economic growth rate."
"Given our exposure to developing markets, both from an operational and investment point of view, many of the issues espoused by the EAI resonate with us," he added. "The push towards sustainability is paramount, as this is what would ultimately support poverty alleviation and lead to better economic conditions for the majority of people in the world."