07/06/2011 Author: Elana Margulies

BREAKING NEWS: Pictet launches Ucits fund to outside investors

Pictet Asset Management, a Swiss-based $140bn asset manager, has launched a Ucits-compliant version of its long/short China equity hedge fund to outside investors, HFMWeek has learned.

The offering, called PTR-Mandarin, will target a broad range of investors including private banks, funds of hedge funds, along with institutional and retail investors to boost its current $345m.

“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,” said Steve Huguenin-Virchaux, senior product manager for Pictet’s total return funds.

The fund, which focuses on fundamentals, invests primarily in Chinese companies listed in Hong Kong and mainland China.

Inflows into Ucits are expected to be strong this year. According to the 2011 Deutsche Bank Ucits III Absolute Return Investment Survey, which surveyed 184 global investor entities, allocators are anticipated to boost their exposure to these types of funds.

Lan Wang Simond is the fund’s portfolio manager. She has been investing in China for over 16 years using long only and long/short strategies.

The institutional share class of the fund has a $1m investment minimum and 1.10%/20% fees. The class for private investors has no investment minimum. There is no lockup and the fund offers weekly liquidity.