NEST appoints Allianz Global Investors as investment strategy adviser

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8 Apr 2014

The National Employment Savings Trust (NEST) has appointed Allianz Global Investors Global Solutions as its investment strategy adviser.

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The National Employment Savings Trust (NEST) has appointed Allianz Global Investors Global Solutions as its investment strategy adviser.

The National Employment Savings Trust (NEST) has appointed Allianz Global Investors Global Solutions as its investment strategy adviser.

AllianzGI will provide NEST with a range of advice on investment strategy including the provision of capital market assumptions and scenario modelling services.

NEST chief investment officer Mark Fawcett (pictured) said: “We have worked very successfully in the past with AllianzGI on a range of strategy projects and are delighted to secure their services as our strategy adviser.”

AllianzGI chief executive Elizabeth Corley added: “We are proud to be working with NEST, a scheme helping transform how employees save for their future. By offering our independent investment advisory expertise, we are pleased to be supporting NEST giving employers, from the smallest firms to the largest organisations, a straightforward yet sophisticated way to meet their members’ pension needs.”

The appointment was made following a tender process, but AllianzGI is not a replacement for another consultant used by NEST.

Due to its expected scale NEST has built significant in-house capability reducing trustee reliance on external consultants. Therefore it uses external consultants sparingly where it identifies a gap in its own in-house expert capability, or where there is a regulatory requirement. The firm has previously used a variety of companies including Allianz, Mercer and Aon Hewitt.

Fawcett added: “Over the last year NEST has retained the services of two investment advisory firms to provide advice and guidance on different elements of NEST’s investment approach. Allianz Global Investors has provided NEST with a range of advice on investment strategy including the provision of capital market assumptions and scenario modelling services. Bfinance UK has provided support and due diligence during the procurement process of additional investment mandates to support the further refinement of NEST’s investment approach.”

Earlier this month, NEST announced the scheme now has more than one million members.

 

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