Pooling comes of age with €2bn launch

Custodians need advanced tax and accounting systems to succeed

The slow-burning project to enable cross-border pooling finally caught light last December when Unilever announced the launch of Univest, a €2bn ($2.4bn) pension asset pooling vehicle.

Univest is the first fully tax-transparent, cross-border pension pooling vehicle launched for a multinational corporation in the form of a Luxembourg-domiciled Fonds Commun de Placement. Northern Trust is acting as the custodian, administrator and management company.

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