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Nest puts commercial property at centre of default investment strategy

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The National Employment Savings Trust has handed two real estate investment mandates to Legal & General Investment Management.

It is the first time Nest, a pension scheme established by the Government for automatic enrolment, has invested directly in commercial property.

Nest says the new mandates will represent a “sizeable portion” of the Nest Retirement Date funds, the default investment option for scheme members.

A Nest spokesman says between 15 per cent and 20 per cent of the default funds will be invested in commercial property through the L&G mandates.

The property mandates will also be incorporated in Nest’s Higher Risk and Ethical Investment fund options.

Nest chief investment officer Mark Fawcett says: “Legal & General was chosen because it delivers on our demanding requirements for excellence in investment processes and philosophy, high quality risk management and a comprehensive integration of environmental, social and governance factors.”

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