NEST appoints LGIM for Gilt mandate

The National Employment Savings Trust (NEST), the national, low-cost defined contribution pension provider, has awarded a Gilt fund mandate to Legal & General Investment Management (LGIM).

The Gilt fund will be used as part of NEST’s range of retirement date funds, which is the default approach for members of NEST. Gilt funds will be used for both younger members, accumulating pensions, and older members in the de-risking phase of their membership. NEST chief investment officer, Mark Fawcett, commented: “LGIM’s funds will be important new elements of how we deliver our risk management approach. The aim is to provide improved returns relative to cash for members, both as they build up their pot and at the stage when they’re preparing to take their money out. Our selection of LGIM reflects their technical expertise and the value for money their funds represent for our members.”