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Nest launches Fund Administration, Custody and Related Services procurement

Published: 27 July 2023

Nest has today invited expressions of interest to provide Investment Custody, Fund Administration, and Related Investment Services for Nest Corporation. 

The current investment custody and fund administration contract expires in October 2025. Nest is therefore undertaking a formal procurement process to consider the current offering in the market and how it services may evolve over the coming decade.  

Included within the scope of the contract:
•    Custodian services
•    Asset allocation and rebalancing services
•    Investment Performance measurement
•    Investment Compliance monitoring
•    Investment Tax services

Nest is developing a sophisticated investment strategy – it has expanded its investable asset universe into more illiquid assets and adopted more complex public market investment strategies, such as transitioning pooled funds into segregated accounts.

The Custody Fund Administration services are a critical part of Nest’s operating model and long-term success, and any bidder will need to have the capacity and capability to accommodate Nest’s growth and ambition for its 13 million members as the pension scheme continues to evolve.

Any organisation wishing to apply should go through the Nest’s procurement platform.

Nest expects to award the new contract Spring next year.