The National Employment Savings Trust (NEST) has appointed UBS Global Asset Management, State Street and BlackRock to manage five investment mandates, Reuters reports.UBS will run passive global equities with its Life World Equity Tracker, which tracks the FTSE All World Developed Index.
The passive U.K. gilts fund will be managed by the State Street U.K. Convention Gilts All Stock Index Fund, while State Street’s U.K. Index Linked Gilts over 5 Years Index Fund will manage NEST’s passive U.K. index-linked gilts, adds Professional Pensions. BlackRock will offer NEST with sterling cash and diversified beta funds using the BlackRock Aquila Cash Fund and the BlackRock Aquila Life Market Advantage Fund.
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