Pictet Asset Management, the London-based asset management arm of Swiss private bank Pictet & Cie, has launched its Pictet-EUR Short Term High Yield fund.

The new fund is a Luxembourg-domiciled UCITS-compliant fund, investing in eurozone high yield short-dated bonds, with Roman Gaiser as lead manager.

The firm believes that in an environment of moderate growth, low inflation and deleveraging, euro high yield short-dated bonds offer an attractive risk/return profile.