Pictet Asset Management has launched a fund of its own funds, the PF-Absolute Return Global Diversified fund, with a strategy centred on a h...

Pictet Asset Management has launched a fund of its own funds, the PF-Absolute Return Global Diversified fund, with a strategy centred on a highly diversified set of asset classes. The new fund aims to beat the benchmark index by at least 4 per cent gross of fees annually. The fund draws on the firm’s experience in managing its existing Alphanatics multi-strategy, internal multi-manager hedge fund and will use Pictet’s “best in class” funds. “We aim to manage ‘beta’ exposure by using over 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,” said Gianluca Oderda, one of the fund’s managers.