Fonterra Shareholders' Fund is a New Zealand-based managed investment scheme. The Fund's principal activity is to acquire and hold economic rights and issue units to investors to allow investors in the Fund an opportunity to earn returns based on the financial performance of Fonterra Co-operative Group Limited (Fonterra). Under the Trust Deed, the Fund may invest only in authorized investments, which are the Economic Rights of Fonterra shares (Economic Rights), and issue units to investors. It may not invest directly in Fonterra shares (Shares). Its activities of the Fund and the issue of units to the public are managed by FSF Management Company Limited. Its segments include Ingredients, Foodservice, Core Operations. The ingredients represent the global Ingredients channel. The Foodservice represents the global Foodservice channel, and residual Consumer channel. Core Operations represents core operating functions, Fonterra Farm Source retail stores and CPM.