New UK government fund seeks responsible ownership advisors and ESG data suppliers

The UK’s new workplace pensions scheme NEST Corp. has issued a tender for responsible ownership advice and environmental, social and governance data suppliers.
The tender comes as Danish pension fund ATP, one of the foremost responsible investors in the world, is drawing up plans to enter the UK to take on NEST. With the ESG data likely to be applied across NEST’s default funds there is now a real prospect that ESG factors could be a way of competing for business.

The NEST tender is in two lots. The first covers responsible ownership advice: proxy voting, engagement and policy development. The second is for ESG data on portfolio holdings.
It said: “NEST Corp. is interested in all ESG data, and does not wish to rule in or out any particular type.” It added that the data would assist its responsible ownership activities – “including engagement,integration and responding to stakeholders and the media”.
“NEST Corporation welcomes interest from all prospective suppliers with a strong track record who feel they are well placed to meet NEST Corporation’s need for either or both lots,” NEST said. The contracts are for three years and the deadline for responding to the tender is March 7.

“NEST Corporation welcomes interest from all prospective suppliers with a strong track record who feel they are well placed to meet NEST Corporation’s need for either or both lots,” the London-based fund said in the tender. NEST plans to invite at least five candidates to the tender stage for each lot.
Last month NEST – predicted to grow into one of the largest defined contribution pension schemes in the European Union –began a search for a Sharia-compliant global equity fund manager.
Link to tender