Swiss Private Bank Pictet & Cie has launched an absolute return global fund, which will invest i...
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 to manage beta exposure by using more than 30 liquid derivative instruments, covering developed and emerging equity markets, as well as fixed income markets, for all the major currencies, maturity ranges and credit qualities. The manager selection process within the alpha strategy is based on the quality of the investment process, confidence in the investment team managing the fund, past performance and the portability of the alpha."
Investment strategy used for the portfolio is based on Pictet's existing Alphanatics fund. This multi-strategy fund invests in between five and 15 strategies across the group's product range including both equity and fixed income.
The fund is being distributed in the UK, Switzerland, Austria, Liechtenstein, Finland and Portugal. There is no minimum investment for private investors.
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