UK workplace pension scheme Nest has given Lombard Odier Investment Managers (LOIM) a mandate to invest in global equities that are aligned with a net zero economy. The actively managed strategy will focus on three key themes: climate change mitigation and adaptation, natural capital, and social trends for a thriving society. Nest expects to invest £5 billion (US$6.3 billion) in the LOIM-managed strategy by 2030. “Lombard Odier was the stand-out candidate in the procurement process, demonstrating they can take a dynamic approach to portfolio construction,” said Liz Fernando, Chief Investment Officer at Nest. “They have robust sustainability research capabilities, accompanied with a strong investment process and governance, which gives us every confidence this will be a hugely successful partnership.” Nest is the largest workplace pension scheme in the UK, currently representing a third of the country’s workforce with £36 billion in assets under management.
