UK's Nest pension picks Wellington in £3.5 billion emerging market active equity shift
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- ✓Britain’s Nest pension scheme moved its £3.5 billion emerging market equities to Wellington Management on Oct.
- ✓The fund shifted from passive investing to an active strategy to better manage sustainability risks.
- ✓"A pure passive approach...
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- India Economy
LONDON, Oct. 1 (Reuters) - Britain's largest workplace pension scheme Nest has moved its entire £3.5 billion ($4.6 billion) in emerging market equities to US active manager Wellington Management, ending a focus on index investing to better manage sustainability risks, an executive told Reuters.
Nest, the £68 billion scheme into which more than 14 million workers are automatically enrolled, had invested the money passively for more than a decade, echoing a global market trend in which trillions of dollars have followed suit to save on fees.
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After awarding its first emerging market passive mandate to Northern Trust in 2014, Nest moved to the manager's Climate Aware Emerging Markets Equity Strategy in 2021.
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