The National Employment Savings Trust (Nest) Corporation has announced the fund managers appointed for its first five mandates.
The funds will provide Nest’s default fund offering.
- Mandate one: passive global equities. UBS Life World Equity Tracker, managed by UBS Global Asset Management Life Ltd, tracks the FTSE all-world developed index.
Tim Jones, Nest chief executive, said: “Today’s announcement demonstrates Nest is on track.
“We are getting the infrastructure in place now so we can test the systems and be ready to accept our first contributions later this year.
“I am really pleased with the quality of the managers who want to work with us. We are gathering together an impressive collection of global leaders to work with us to deliver Nest.”
Mark Fawcett, Nest chief investment officer, added: “The infrastructure we are putting in place will give our members access to a diverse set of global asset classes, through Nest-constructed yearly target-date funds, which will help us to manage investment risks in a way that’s appropriate for them.
“Everything we do is focused on helping our members achieve good outcomes – we believe these funds will allow us to create a strategy that will help us to do that.”
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