Geneva-based Pictet Asset Management, the Swiss investment manager with over USD418billion in asset under management and custody, this week launched a UCITS III-comp
Geneva-based Pictet Asset Management, the Swiss investment manager with over USD418billion in asset under management and custody, this week launched a UCITS III-compliant version of its China equity l/s hedge fund to outside investors reported HFMWeek. The PTR-Mandarin fund, a Lux-domiciled SICAV, is available in the USD share class and will aim to target a variety of investors from institutionals through to retail to boost its current AUM of USD345million. The fund will use the MSCI Golden Dragon as its benchmark. It has a TER (Total Expense Ratio) of 3.5 per cent and is available for distribution in Great Britain, France, Germany, Luxembourg, Spain and Switzerland. Lan Wang Simond (pictured) and Gregory Guignard are the fund’s portfolio managers. As its name suggest, PTR-Mandarin invests primary in China equities listed in Hong Kong and on the Mainland using a fundamental investment approach. Taiwan is the other key market within the Greater China remit. Simond is a veteran China equities trader and has 17 years’ experience using both long only and l/s strategies. Commenting on the PTR-Mandarin fund, Steve Huguenin-Virchaux, senior product manager for Pictet’s total return funds said: “In the years to come, China’s economic growth will increasingly rely on internal consumption as opposed to exports as China is transforming from a manufacturing base to a service and consumption powerhouse.”
