Nest has appointed Northern Trust as fund administrator and custodian in an effort to help the pension scheme coordinate its investments across its diversified portfolio. Northern Trust aims to provide key services for Nest’s investment strategy, including custody, asset allocation and rebalancing, and performance measurement. Mark Fawcett, CEO of Nest Invest, comments: “Northern Trust really impressed us in what was a competitive procurement. We have specific requirements for asset allocation and rebalancing, and their capability to manage sophisticated strategies is particularly strong. The flexibility they can offer, to evolve the services we need around our future growth, will be crucial.” Ian Hamilton, head of Asset Owners, UK at Northern Trust, says: “This mandate is testament to Northern Trust’s track record in supporting complex asset owners deliver transformative change and we are thrilled to partner with the UK’s largest defined contribution master trust and a leading innovator in the pension sector.”
