NEST Corp., London, announced on Tuesday the assets under management in the National Employment Savings Trust totaled £11.1 million as of June 30, nearly triple its reported AUM the previous quarter.
The trust, which reported £3.8 million in assets under management as of March 31, was established as a nationwide defined contribution plan designed for lower-income workers. It began accepting members in October.
As of June 30, the trust announced it had 275,000 members, up from 81,255 members at the end of the first quarter, with more than 900 employers, up from 347 employers at the end of the first quarter.
Among the large employers with which NEST is working are McDonald's, Random House Group and Travelodge, according to spokeswoman Annie Bruzzone.
The corporation also released its corporate annual report and the annual report for the trust for the fiscal year ended March 31.
The NEST Higher Risk Fund had the best performance for the fiscal year, at 15.6%, followed by the NEST Sharia Fund at 14.5% and the NEST 2040 Retirement Fund at 13.6%.