View more on these topics

Pictet launches large-cap American fund

Pictet Funds has launched an American large-cap vehicle for retail investors.

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%


Related Articles:
Pictet launching agriculture fund
Pictet adds to thematic range

Recommended

Clear intentions

Looking back, it is hard to remember a time when the integrity of our industry has been the subject of such intense scrutiny. This comes from our critics, among our peers and, perhaps most significantly, in the eyes of the ever more financially aware consumer. Sometimes, I think this must be how it feels to be an MP.

6

Turner says SEP fee increases are a “one-off”

FSA chairman Adair Turner says that FSA fee increases are a one-off and the industry will not face further rises for the supervisory enhancement program in the future.

Japan Economic Insight

James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment