Preheat your oven to 350°F and grease a 9-inch bundt pan with butter or margarine.
In a large mixing bowl, beat the caster sugar and eggs, adding one egg at a time.
Add the softened butter, and using an electric mixer, whip the mixture for about 3 minutes until it becomes light and creamy.
In a separate bowl, combine the flour with baking powder.
Soak the pistachios and hazelnuts in water for a minute, drain them, then stir them into the flour mixture. (Reserve about 2 tablespoons of pistachios for garnishing.)
Gently fold the flour mixture into the egg batter, mixing slowly until everything is fully combined.
Pour the batter into the prepared bundt pan and bake for about 40 minutes or until a toothpick comes out clean.
Allow the cake to cool completely before removing it from the pan.