Pictet Funds has launched an American large-cap vehicle for retail investors.
The PF (Lux) US Equity Value Selection fund is run by Susan Byrne, Mark Freeman and David Spika at Westwood Management, a wholly-owned subsidiary of Pictet.
The trio will invest in American companies with a market cap of about $5 billion (£3 billion) which they believe to be valued at a discount to their forecast profitability.
The fund’s portfolio will consist of 40-60 ‘best ideas’ with each stock size capped at 3% of the fund.
Retail investors can access the fund as it is registered in Britain and there is no minimum investment. The annual management fee is 1.2%