UK defined contribution multi-employer pension scheme NEST has hired Absolute Strategy Research to provide strategic investment research services.

A spokeswoman told IPE that the research was not for any specific new project, but that NEST had a contract expire in June and wanted to appoint a replacement research company, with an emphasis on investment strategy and asset class expertise.

“Absolute Strategy Research demonstrated the best fit and will be working collaboratively with our internal investment strategy team to support our research and asset allocation process,” she said.

Absolute Strategy Research was set up in 2006 by David Bowers, who had previously been chief global investment strategist at Merrill Lynch, and Ian Harnett, formerly chief European investment strategist at UBS.

The contract, which has been valued at £99,000 (€116,000), will run until August 2023. According to the tender document, services delivered under the contract include provision of macro-economic and multi-asset class data, analysis and indicators; and monitoring of market developments for emerging trends and bringing the most salient issues to the notice of NEST’s investment strategy team.

Separately, NEST has launched a tender for climate change research services, with a focus on the risk climate change poses to various investments.

According to the tender document, the core service wanted is climate change scenario analysis, with proposals for portfolio alignment tools and climate change metrics as additional requirements.

The pension scheme may appoint a single provider or up to three specialist suppliers.

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