Monday, 24 November 2014
Last updated 39 min ago
Mar 2 2012 | 7:10am ET
Investors are flocking to Pictet Asset Management's UCITS III-compliant credit hedge fund, thanks to an unexpectedly "warm response" from the institutional community.
Pictet's Total-Return Kosmos Fund, which debuted in June with €66 million, now manages €330 million. Some €190 million of the new money has poured in since November, HFMWeek reports.
Kosmos, which has returned 3.11% since its launch, is focused on Europe and North America. It is managed by Raymond Sagayam and Kazik Swiderski.
Pictet expected the fund to be popular with retail investors and funds of funds. But the firm has gotten a "warm response" from pensions and insurance companies in Europe, as well as some interest from the Middle East
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