Consumers do not want investment choice: Danish NEST rival

After its details were revealed yesterday, Tom McPhail, head of pensions research at Hargreaves Lansdown, criticised the single strategy approach, saying it left little for investors who wanted anything different such as Sharia-compliant or ethical portfolios. However, Morten Nilsson, chief executive of NOW, said most investors will be satisfied with its simple offering. "Consumers want as little choice as possible. They just want to hand over their investment to someone else," he said. "Existing ethical funds do not have a huge number of savers, and our funds have high standards o...