BlackRock Foundation Commits $2M to Nest Insight

The three-year agreement aims to help increase savings for U.K. households.




The Blackrock Foundation, the philanthropic arm of BlackRock Inc., has committed 1.5 million pounds ($2 million) to support Nest Insight, a public-benefit research and innovation center in the U.K.

The foundation reported the three year-partnership agreement will focus on using BlackRock’s Emergency Savings Initiative, launched in 2019, to help boost savings and improve financial security for millions of British households.

The Emergency Savings Initiative is funded with $50 million and has the goal of spurring “innovation that enables people to establish a stronger financial safety net.” According to the foundation, the collaboration aims to work with regulators and support employers to launch more opt-out savings plans for U.K. workers.

According to Nest Insight, its recent research demonstrates that an “opt-out approach to saving could make a significant impact on the UK’s savings gaps.” Its research found that approximately 25% of adults in the U.K. have less than 100 pounds in savings, and its opt-out pilot program indicated that 70% of workers are beginning to save.

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An opt-out approach involves employees being automatically enrolled in a savings account through payroll contributions unless they choose to opt out. The foundation’s research indicated that workers save more if they are required to request unenrollment from a savings program, rather being required to sign up for one, the foundation reported.

“If they want to start saving, they don’t need to do anything,” the Nest Insight  stated. “Everything is done for them. Only people who don’t want to save have to take action.”


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Moody’s, MSCI to Launch Private Credit Risk Modelling Tool

The two firms will partner on solutions to provide risk assessments for the asset class. 



MSCI and Moody’s Corporation have partnered to launch an offering that assesses risks for private credit investments.

The solution integrates MSCI private capital data with Moody’s EDF-X credit risk modelling tool.

MSCI said the new solution leverages consistent, independent probability of default (PD) scores and implied ratings for deeper risk insight across funds, sectors and geographies.

It also delivers credible, transparent credit risk metrics to boards, regulators and investors and support decision-making with insights backed by the independent methodologies, MSCI said.

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The two firms said the solution “will be distinct from the services provided by Moody’s Ratings, the credit rating agency, to the issuers in the private credit market.”

MSCI is supplying data on more than 2800 private credit funds and 14,000 underlying companies.

The solution will also produce early warning signals that flag potential credit deterioration, macro-adjusted PDs incorporating both climate and economic factors, and loss given defaults at the facility level.

“As the private credit market evolves, investors are looking for trusted independent assessments to help benchmark credit risk and inform investments and monitor portfolios,” Moody’s chief executive Rob Fauber said.

“Our partnership with MSCI will play a critical role in providing these insights, helping market participants make informed decisions.”

MSCI chief executive Henry A. Fernandez said the rapid growth of private credit continues to transform the global investment landscape while highlighting the need for increased transparency, consistent standards and independent risk assessment.

This article originally appeared in our sister publication, Financial Standard, which, like CIO, is owned by ISS STOXX.

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