The UN-backed Principles for Responsible Investment (PRI) and the Enhanced Analytics Initiative (EAI) have announced that they will join forces under the PRI name to promote investment research in extra-financial issues (EFIs).

EFIs are not part of traditional investment analysis but can impact companies’ financial performance and reputation. PRI and EAI are both industry-led initiatives that aim to improve long-term investment returns by evaluating the impact of EFIs. Their combined signatories have joint assets under management of more than $15 trillion (£8.5 trillion)

Peter Scales, current chairman of EAI, said, “The quality and depth of research which integrates EFI issues into investment research has improved dramatically since EAI launched. Today’s announcement marks the beginning of a new direction for EAI and is the next logical step in the Initiative’s evolution. The opportunity to join forces with the PRI will allow us to internationalise and extend the call for EFI research, with the benefit of PRI’s global reach and broad signatory base.”

A working group has been established, and further detail regarding how the group will support research providers that diversify their approach to assessing the impact of long term intangibles on company performance is expected by the end of the December 2008.

A formal collaboration between PRI and EAI began in January 2007 when it was announced that signatories of each initiative would be encouraged to join the other.