Pictet global fund targets positive absolute returns

Swiss Private Bank Pictet & Cie has launched an absolute return global fund, which will invest in Pictet's own product range. The PF-Absolute Return Global Diversified fund is co-managed by Gianluca Oderda and Philippe Pol. It aims to generate a positive absolute return, equal or superior to the Euro OverNight Index Average index plus 4% gross of fees annually. The annual management charge is 1%. The target volatility of the fund is similar to that of a balanced portfolio comprising 30% equities and 70% bonds, but is likely to range between 5% and 10%, said Oderda. He added: "We aim t...