FOR IMMEDIATE RELEASE
INVESTEC ASSET MANAGEMENT JOINS EAI Raising Initiative’s Total Assets Under Management To More Than $1 Trillion
19th May, 2006: The Enhanced Analytics Initiative (EAI) announces today that Investec Asset Management (Investec) has joined the Initiative as a full member, raising the Initiative’s total assets under management to €801 billion (US$1,035 trillion). EAI is an international collaboration of asset owners and asset managers aimed at encouraging investment research that considers the impact of extra-financial issues on long-term company performance. Investec Asset Management provides specialist high alpha asset management services to mutual fund and institutional clients and has assets under management of £31.7 billion (€45.4 billion). As a full EAI member, Investec has committed to allocate a minimum of 5% of its annual broker commissions to those research organisations who best analyse the material extra-financial and intangible issues that can affect a company’s or a sector’s performance. EAI was established in 2004 by a group of asset owners and managers committed to promoting better sell-side research on extra-financial issues. The current members are AGF Asset Management, BNP Paribas Asset Management, BT Pension Scheme, Calvert, CPP Investment Board, Deutscher Investment Trust / Dresdnerbank Investment Management, Generation Investment Management, Hermes Pensions Management, London Pension Fund Authority, Mistra, PGGM, RCM, SNS Reaal Group, Sogeposte, Pension Fund ABP, Trades Union Congress (TUC) Superannuation Society and the Universities Superannuation Scheme. Hendrik du Toit, Chief Executive Officer of Investec Asset Management said, “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. 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. “Our membership of the EAI will focus in particular on the improvement of research coverage of African markets. 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.” Commenting on the announcement, David Blood, Chairman of EAI and Managing Partner of Generation Investment Management, said: “Investec’s membership adds considerable clout to EAI. We are seeing a significant and encouraging response from the research community, particularly from those who are keen to differentiate their analysis from the rest of the field. It is imperative that there be greater focus on the extra-financial issues that are relevant when evaluating a company over the long term.” Further details of the Enhanced Analytics Initiative are available at www.enhancedanalytics.com. - End -
For further information, please contact: Capital MS&L on behalf of Enhanced Analytics Initiative Claire Maloney / Astrid Josephson on +44 (0) 20 7307 5330 or firstname.lastname@example.org Penrose Financial on behalf of Investec Asset Management Ben Curson on +44 (0) 20 7786 4870 or email@example.com Notes to Editors: About Investec Asset Management Investec Asset Management is an international, alpha-specialist investment manager, serving both institutional and individual investors from the UK, Europe, Africa, Taiwan, Hong Kong and Latin America. Investec Asset Management manages £30 billion on behalf of pension funds, insurance companies, charities, governments, corporations and individual investors. The firm employs approximately 80 investment professionals, who work in small specialist teams, each with a particular investment focus, of which the core propositions are: Global equities, UK equities, African equities, UK and global and local currency emerging market fixed income. Other substantial products include, Japanese, Asia-ex Japan equities and liquidity management. About extra-financial issues Academic analysis indicates that a substantive part of a company's value is related to its extra-financial performance or intangibles. Extra-financial issues are best described as fundamentals that have the potential to impact companies' financial performance or reputation in a material way, yet are generally not part of traditional fundamental analysis. Extra-financial issues typically include, but are not limited to, climate change, corporate governance, employment standards, human resources, executive remuneration, environmental and social areas and reputation risk. They may be specific to a company, an industry or cut across several industry-groups.