NEST awards Ethical and Sharia mandates

NEST Corporation has announced the fund managers appointed for its Ethical and Sharia Funds. F&C Asset Management will manage the Ethical Fund and HSBC Global Asset Management has been awarded the Sharia mandate.

The Ethical Fund will initially invest in actively managed and screened global equities, as well as some UK government bonds. According to NEST, this fund of funds will feature a dynamic approach to risk management and asset allocation to deliver a risk/return glide path for the whole of a member’s savings career.

NEST’s Sharia Fund will invest solely in the HSBC Life Amanah Pension Fund. This fund passively tracks the Dow Jones Islamic Titans 100 index, a global equity index screened so as to be in accordance with Sharia principles.

Commenting on the appointments, Tim Jones, NEST chief executive, said: “These latest appointments are excellent additions to NEST’s choice of fund managers. I am delighted that all of our fund managers have such depth of experience in their particular fields. Both of these funds should provide an excellent foundation for helping our members who want to make a choice based on ethical or faith grounds to save for retirement.”

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