UK pension fund Nest has appointed Northern Trust as its fund administrator and custodian. This move is aimed at enhancing investment coordination across Nest’s diversified portfolio within the pension scheme.
Northern Trust will provide services for Nest’s investment strategy, including custody, asset allocation and rebalancing, and performance measurement according to a press release.
Mark Fawcett, CEO of Nest Invest, expressed confidence in Northern Trust’s capabilities, stating, “We have specific requirements for asset allocation and rebalancing. The flexibility Northern Trust can offer, to evolve the services we need around our future growth, will be crucial.”
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