Wednesday, 6 May 2015
Last updated 3 hours ago
Jun 7 2011 | 12:29pm ET
Pictet Asset Management has launched a UCITS version of its long/short China equity hedge fund for outside investors.
The Swiss-based asset manager with $140 billion AUM will target private banks, funds of funds, institutional and retail investors with the new PTR-Mandarin fund, reports HFMWeek. The fund, currently at $345 million, will invest chiefly in Chinese companies listed on the Hong Kong and mainland China exchanges. Portfolio manager Lan Wang Simond has been employing long/short strategies in China for over 16 years.
“In the years to come, China’s economic growth will increasingly rely on internal consumption as opposed to exports as China is transforming from a manufacturing base to a service and consumption powerhouse,” said Steve Huguenin-Virchaux, senior product manager for Pictet’s total return funds.
Minimum investment for the institutional share class is $1 million, with fees of 1.10% and 20%. There is no investment minimum for private investors. The fund has no lockup and offers weekly liquidity.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…