Nest publishes on its website:
“Following its recent tender, Nest has appointed Wells Fargo Asset Management (WFAM) to manage a segregated, global corporate bond mandate.
WFAM will immediately start to invest on behalf of Nest and its 8 million members, with the pension scheme aiming to invest around £500 million into global bonds over the course of the next 12 months.
Nest has been investing in the UK corporate bond market for a number of years but is looking to expand out further, taking advantage of the favourable and stable returns offered globally in this asset class.”
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