Institutional Investors

Nestle hires for cross-border fund


Nestle of Switzerland has created a Common Contractual Fund, which is a cross-border pooled pension fund. Nestle is known for its past interest in hedge funds, although officials at the fund could not be reached to comment on whether or not the cross-broder fund currently invests in hedge funds.

The group has hired Northern Trust to provide custody, fund administration and performance reporting for the pooled fund that was set up to maximise the assets of multi-national pension funds and be tax-transparent. The Ireland-domiciled fund is designed to enhance investment performance, oversight and