U.K. competitors miss out as the asset management unit at Swiss private bank Lombard Odier snatches a multi-billion sustainability mandate from under their noses.
Lombard Odier Investment Managers (LOIM), the fund arm of the Geneva-based private bank, has won a tender from the U.K. occupational pension scheme, National Employment Savings Trust (Nest).
LOIM announced on Thursday that it has been appointed to manage a mandate investing Nest assets in global thematic equities, consistent with the transition towards a net-zero economy.
Nest has made this selection in the hope of sustainable outcomes and robust investment returns.
The Country’s Biggest Pension Provider
This is a decisive coup for LOIM, which beat all the local competitors to the mandate. Nest is the largest occupational pension provider in the U.K. With assets under management of 36 billion pounds, or just under 34 billion Swiss francs, it currently represents one in three Brits.
The press release adds that Nest plans to invest around 5 billion pounds (4.7 billion francs) in the strategy managed by LOIM between now and 2030.
New London-Based Subsidiary Comes to the Fore
The actively managed mandate will focus on three key themes: climate change mitigation and adaptation, natural capital, and social trends for a thriving society. The strategy is based on the sustainability research by Holistiq, a London-based LOIM subsidiary founded in mid-2023, and by the active equities investment teams.
