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Nest puts commercial property at centre of default investment strategy


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.”


Aviva and Hargreaves lobby for pensions ‘pot follows member’ alternative

Aviva and Hargreaves Lansdown have joined forces to challenge the Government’s plans to introduce a ‘pot follows member’ automatic transfer system for pensions worth less than £10,000. In April, the Department for Work and Pensions confirmed it plans to press ahead with reforms which will see small pots transferred automatically when a person changes jobs. […]


IFA Centre kick-starts Capita legal battle for further Arch cru redress

Trade body IFA Centre has kick-started its legal challenge against Capita Financial Managers to secure redress for Arch cru investors who are not covered by the consumer redress scheme. Law firm Harcus Sinclair has written to Capita, the authorised corporate director of the Arch cru fund range, to notify them of a claim against the […]


Cost of scrapping the FSA jumps 75% to £44m

The total cost of scrapping the FSA and replacing it with the Financial Conduct Authority has hit almost £44m, up 75 per cent from its top estimate of £25m. The regulator has today published its annual report for 2012/13, reflecting on the final year of the FSA. It reveals the industry incurred costs of £31.6m […]


ABI warns defined ambition will be too costly

The Association of British Insurers will today warn pensions minister Steve Webb’s defined ambition proposals would be too expensive and too difficult to regulate, according to the Financial Times. Webb set out defined ambition options in April last year in which the Government looks to encourage employers to take on a greater share of retirement risk. […]

Planning now for the residence nil-rate band

Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]


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