Comite Syndical National de Retraite Batirente Inc., Montreal, joined Enhanced Analytics Initiative, an international collaboration 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, according to a statement from EAI.
Batirente is a labor organization that oversees workplace retirement plans and investment funds. It has C$656 million (US$584.13 million) in assets.
"As an asset owner whose fiduciary duty it is to protect the long-term interests of its members, Batirente was drawn to EAI as we feel very much aligned with the initiative's commitment to sustainable business practice," Daniel Simard, Batirente general coordinator, said in the statement. "We look forward to adding our weight to the call for enhanced investment analysis."
Batirente joins EAI as an associate member because it has no trading operation and no direct contractual relationship with research providers, but is "actively supportive of the objectives of EAI," the statement said.