The French investment fund "Fonds de Reseve pour les Retraites" (FRR) declared on September 7 their backing of the EITI. The FFR states in their press release that promoting good governance and transparency is part of their SRI strategy. The fund also encourages the members of the extractive sector in its portfolio to fully endorse and actively support the Initative. The total value of FRR's assets under management is €28.8 billion. Over eighty global investment institutions have so far signed the Investors' Statement on Transparency in the Extractives Sector, collectively managing assets valued to more than US$16 trillion.