Royal London Asset Management will provide an actively-managed corporate bond fund mandate for UK pension provider, the National Employment Savings Trust (Nest).
The Royal London mandate will not be a standalone fund choice but will be one of the building blocks for Nest's Retirement Date Funds and Pre-retirement Fund.
It is notable that the Royal London mandate is actively managed as most of Nest's mandates to date have been passive. In February 2011, Nest appointed UBS Global Asset Management for passive global equities and State Street Global Advisors for passive UK gilts and UK index-linked gilts. BlackRock won mandates for sterling cash and diversified beta.
Mark Fawcett, Nest’s chief investment officer, said: “This additional building block allows us to further refine the already sophisticated approach we use to manage risk and deliver our investment objectives.”
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