As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 5 hours ago
Apr 15 2010 | 10:19am ET
Swiss private bank Pictet & Cie. has launched a UCITS III-compliant version of its three-and-a-half-year-old European long/short hedge fund.
The PTF(LUX)-Corto Europe fund will follow a strategy similar to Pictet Funds’ Corto European Fund. That vehicle, domiciled in the Cayman Islands, has enjoyed 7.6% annualized returns since its debut in August 2006.
Pictet plans to register the new fund in most major European countries. Initially, it will be offered in three share classes—euro, U.S. dollar and Swiss franc—but Pictet has not ruled out adding other currencies depending on demand.
The new fund will be managed by Nils Francke and Philippe Sarreau. The fundamental-research-based fund will concentrated on smaller mid-cap companies—those with a market cap of less than €5 billion.