News in brief 13 April

Nest to trial new pension savings model with ‘emergency fund’ component

Nest has announced its plans to trial a new pension savings model that could offer consumers access to some of their pension before retirement. The trial will see Nest pension savings being split into pension contributions and an emergency fund component that customers could withdraw to use as a quick source of cash. GlobalData insurance analyst Danielle Crips commented “Nest is thinking about the customer by providing the best of both worlds. By giving customers access to a small amount of their pension pot in this way it may well prevent some individuals opting-out by easing the decision of whether to lock up money into their pension or put it into savings so it is easily accessible.’’

State Street appointed by HSBC Alternative Investments to provide back and middle office services

State Street has been appointed by HSBC Alternative Investments in Luxembourg to provide a range of custody and administration services for its new diversified loan fund. State Street will be the sole provider of a number of services including global custody and depositary, fund administration and regulatory reporting services for the EMIR, FATCA and Solvency II.

Jupiter launches global sustainable equities fund

Jupiter has launched its first institutional-only global sustainable equities fund, designed for use by pension scheme investors as part of their global equity allocation. The fund is benchmark unconstrained and invests globally across developed and emerging markets. It is positioned for the transition to a lower carbon economy and will be managed by Abbi Llewellyn-Waters.

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