Modern Investor - For Professional Investors

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Nestlé appoints PIMCO to run global credit fund

Nestlé appoints PIMCO to run global credit fund

Food giant Nestlé has appointed bond giant PIMCO to run its global credit fund, the Swiss group has announced.

This arrangement will see PIMCO work with Nestlé's dedicated fund management subsidiary Robusta Asset Management to run the Robusta Global Credit Bond fund.

The Robusta Global Credit Bond fund was established in December 2004 with a strong emphasis on long-term growth investment opportunities.

According to the investor note seen by Citywire, PIMCO was officially appointed to the role on July 30 with the management role taking effect from July 31.

PIMCO was unavailable for comment at the time of publication.

Robusta is a wholly-owned investment manager designed to invest pension scheme money and other cash pools on behalf of Nestlé.

According to the 2012 consolidated financial statement for the Nestlé Group, Robusta currently oversees CHF 8.8 billion (€7.1 billion) in assets under management.

Previous tie-ups have seen Robusta Asset Management appoint Schroders in February 2012 to oversee an emerging markets fund.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Venice 2018: closing day event photos

    Citywire Venice 2018: closing day event photos

  • Citywire Venice 2018: photos from day one of the selector event

    Citywire Venice 2018: photos from day one of the selector event

  • Citywire Madrid 2018: photos from the fund selector event

    Citywire Madrid 2018: photos from the fund selector event

  • Citywire Luxembourg 2018: photos from the selector event

    Citywire Luxembourg 2018: photos from the selector event

  • Citywire Zurich 2018: photos from the event and panel session

    Citywire Zurich 2018: photos from the event and panel session

  • Citywire Global New Ideas 2018: photos from the final sessions

    Citywire Global New Ideas 2018: photos from the final sessions

  • Global New Ideas 2018: photos from the opening day

    Global New Ideas 2018: photos from the opening day