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Nest to offer SRI fund as part of its investment strategy

Nest is to offer an actively managed global equity fund that will focus on both social responsible and ethical investment issues.

The fund will be one of a number within the group’s core investment strategy and Nest has made an offer to global equity SRI fund managers to tender for the initial contract.

Nest is to use Mercer to assist its investment and procurement team to select a short list of pooled fund managers. The investment committee will approve the award of the contract.

The actively managed global equity fund will be one of a number of funds offered by Nest, with further funds to be detailed in the new year when Nest publishes its first statement of investment principles.

Nest says it will have the ability to mix the SRI offering with other asset classes to create a fund of funds with a suitable risk/return profile for its members.

Investors in the SRI fund will have their pots ‘lifestyled’ to incorporate the appropriate level of risk for a person at that point in their careers. The fund will have no target date fund approach.

Managers for the mandate will be announced in March/February 2011.

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