Pictet Asset Management announced this week the launch of its latest Lux-domiciled UCITS fund. The Pictet-EUR Short Term High Yield fund invests in EUR high yield short-dated bonds and is lead managed by Roman Gaiser (pictured), who has 16 years’ experience in managing high-yield bonds. Pictet says that in today’s environment of moderate growth and deleveraging investing in these instruments offers an attractive risk/return profile in what is a rapidly maturing European market. Also working with Gaiser is Alexander Baskov, Prashant Agarwal and Markus Orschulik. The team is based in Geneva and will use a combination of top-down and bottom-up investment strategies to develop a diversified portfolio across shorter maturity buckets, sectors and ratings. “The market has now achieved a critical mass in European short term high yield, which makes this asset class both investible and desirable,” said Gaiser.