Nest has issued a tender for two emerging market investment funds as the Government-backed scheme looks to boost members’ pension pots.
Nest is looking to procure a global emerging market equity index-tracking fund and an alternative index global emerging market fund.
Nest says the two funds will be used as “building blocks” for the scheme’s default retirement date funds.
Nest chief investment officer Mark Fawcett says: “We are continuing to refine our already sophisticated investment approach – these emerging markets mandates will allow us to further access an asset class with the potential to deliver good growth for our members as well as greater scope for diversification.”
Nest has handed out seven investment mandates since February 2011:
- Passive Global Equities – UBS Global Asset Management
- Passive UK Gilt – State Street Global Advisors
- Passive UK Index Linked Gilts – State Street Global Advisors
- Sterling Cash – Blackrock
- Diversified Beta – BlackRock
- equity portion of Nest Ethical Fund – F&C Global Asset Management
- Sharia mandate – HSBC Global Asset Management