BlackRock has landed a host of investment mandates from Nestlé’s pension fund after the food giant reverted to external mandates.

According to Irish Stock Exchange filings, BlackRock has landed several bond, equity and passive investment mandates from Robusta Asset Management, the Swiss group’s investment arm.

This will mean the asset manager is responsible for active and passive European equities, active North American equity and Asia Pacific Equity funds. It will also take on the Robusta Global Bond and Global Inflation-Linked Bond funds.

The announcement of the change was made on 2 May with BlackRock assuming responsibility from Nestlé Capital Management, which ran them on behalf of Robusta Asset Management.

According to trade website Financial News, Nestlé is to close its Yorkshire-based fund management business as part of efforts to remain competitive with its peers.

Nestlé Capital Advisers was formed in 2007 as a ‘one-stop-shop’ for Nestlé to invest on its own behalf through the Robusta arm. It followed this up with the establishment of Nestlé Capital Management in the UK in January 2007.