The National Employment Savings Trust (NEST) has invited tenders for products to achieve exposure to UK direct and global listed real estate.
An advert in the Official Journal of the European Union calls for up to four specific investment funds to use as building blocks in its retirement date funds and other fund choices.
NEST said it requires:
• A UK direct property fund
• A UK direct property fund “with strong sustainability credentials and hence is aligned with the policies of the NEST Ethical Fund”
• A global real estate investment trust (REIT) fund
• A global REITs fund “with strong sustainability credentials and hence is aligned with the policies of the NEST Ethical Fund”
NEST said the procurement “will assess the chosen strategies, investment and risk management processes and track record of the proposed fund and also where provided the sustainability credentials of the proposed funds to evaluate alignment with the policies of the NEST Ethical Fund”.
It will also focus on the commercial proposition of the proposed funds as NEST is “committed to securing value for money for members using high quality providers”.
It expects to appoint up to four managers in the second quarter of 2013.
Chief investment officer Mark Fawcett said: “NEST has an investment approach specifically designed for the needs of our members, based on detailed research of their characteristics.
“This latest procurement allows NEST to provide even more sophistication in our approach to investing for a new generation of savers.”
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