Fabien Pictet & Partners has launched an emerging markets debt fund with the ability to go both long...
Fabien Pictet & Partners has launched an emerging markets debt fund with the ability to go both long and short.
The Global Emerging Markets Bond fund, the fourth product from the group, aims to achieve annualised returns of 15%-20% and to reduce portfolio volatility by using a combination of local currency corporate, sovereign and distressed bonds.
The portfolio, which will be listed in Dublin, will be managed by Julian Jacobson, who, as manager of the group's Emerging Hedge Fund I, which the new fund replicates, has produced average annualised returns of 23% over the past four years.
The Global Emerging Bond fund aims to keep within annualised volatility of 10% and is targeting institutional and fund of fund investors. It is being seeded with money from the Jacobson's Emerging Hedge Fund I, together with new subscriptions. The fund will invest in currencies, corporate, sovereign and distressed bonds.
Jacobson makes trades for the fixed-income and convertible exposure of all Fabien Pictet & Partners emerging markets funds, having joined the firm from his role as managing director of the new issues department at Kidder Peabody International.
£1bn business since inception
Considered doing so in 2015
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