Nest brings in Cardano for fund manager selection

Nest has appointed risk and investment specialist Cardano support manager selection exercises and assist with its default investment strategy.

Cardano will offer Nest general investment advice, ranging from the impact of changes in legislation through to the development and design of its investment strategy and will also support fund manager searches and selection exercises.

Cardano DC business co-head Ralph Frank says: “Nest is at the forefront of managing and delivering pensions for millions of auto-enrolled workers. It has also demonstrated thought-leadership in the area of retirement saving. We look forward to engaging with and supporting Nest in advancing its offering as well as identifying leading fund managers.”

Nest chief investment officer Mark Fawcett says: “At Nest we have a mission of delivering a high quality workplace pension for our members. We can achieve this goal by working collaboratively with selected parties to access best ideas and best practice. Cardano showed the capabilities we seek across both general investment advice and manager selection.”