GERMANY – MetallRente, the €556m pension fund for Germany’s metalworking and engineering industries, has joined the Enhanced Analytics Initiative.

The initiative said the fund, the group’s first German member, helps to give it extra “clout”.

EAI, launched in 2004 by a group of asset owners and asset managers to get more from broker research, said it had gained two new members: MetallRente and Investec Asset Management. Member assets now exceed $1trn, it said.

“On behalf of EAI, I am delighted to be announcing these members, both of which reinforce EAI as a truly international initiative,” said EAI chairman David Blood.

Blood is the co-founder, with former US vice president Al Gore, of Generation Investment Management.

Blood added: “We are already seeing a significant and encouraging response from the research community to focus on the extra-financial issues that are relevant when evaluating a company over the long term.

“Investec Asset Management and MetallRente add significant clout to the Initiative’s pressure for change.”

The EAI has gained five new members since the start of the year.