Swiss food giant Nestle has selected American investment management firm PIMCO to run its global credit fund.
Robusta Asset Management, which manages Nestle’s cash and pension fund, will work with PIMCO to run the Robusta Global Credit Bond fund.
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The Robusta Global Credit Bond fund was established in December 2004 with a strong emphasis on long-term growth investment opportunities.
As per the agreement, PIMCO will be paid a fee not exceeding 30 basis points a year.
Robusta currently manages CHF8.8 billion in assets under management.
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