Preheat the oven to 350 degrees F. Butter and flour a bundt pan (12 cup).
Cream the butter and sugar together on medium speed 2 - 3 minutes.
Beat in the egg and vanilla.
Beat in the applesauce - it might look curdled - that's ok.
In a separate bowl whisk the flour, baking soda, cinnamon and nutmeg together.
Add it to the butter mixture and beat on low until just combined.
Stir in the fruitcake mix, raisins and nuts.
Spoon into the bundt pan and spread evenly.
Bake 1 hour 10 minutes to 1 hour 20 minutes or until a toothpick comes out clean from the center.
Let cool on a wire rack about 30 minutes. Turn out onto a cake dish/platter. Cool completely.
Dust with confectioners' sugar to serve.