Governance of funds

NEST has a fiduciary responsibility to manage members’ retirement pots in the interests of its members.

NEST has a legal duty to act in members' interests in any investment decisions they take.

The Investment Committee is responsible for agreeing the Statement of Investment Principles (SIP), setting asset allocations for all funds and appointing investment managers.

NEST also has access to several investment consultants including Mercer, Aon Hewitt, Hyman Robertson and Deloitte.

These consultants have been used to assist in the procurement of investment manager mandates and assist the Investment Committee in developing and approving NEST’s Statement of Investment Principles (SIP).

NEST Corporation has appointed State Street Corporation to act as the scheme’s fund administrator and in the future as its global custodian.

State Street Corporation is one of the largest global custodians in the world and has an excellent track record for fund administration.