Pictet To Sell Hedge Funds To Middle Eastern Clients

Mar 7 2013 | 12:20am ET

Swiss private bank Pictet & Cie. is looking to the Middle East to raise money for its hedge funds, offering the European Union as a major investment opportunity.

Pictet plans to target Middle Eastern clients as it aims to build its US$2.5 billion hedge fund business. The firm has been adding asset management staff in the region and plans to hire more staff in its Geneva headquarters to serve clients from the Middle East, Bloomberg News reports. It plans to seek regulatory approval in the region to facilitate the marketing push.

"Our clientele mostly in this space has been in Europe, a little bit in North America, and it's something that we want to make our clients aware of here as well," Philippe De Weck, head of total return equities at Pictet Asset Management, told Bloomberg from Dubai. "It's the impression that I get in the region that when I talk to people, they think that hedge funds are risky, but the word 'hedge' means to protect."

"We're looking to be part of people's alternative allocations," he added.

Pictet is selling European opportunities, De Weck said, as the possibility of a breakup of the eurozone wanes.

"We probably see more value in Europe than in most regions of the world in quality world-class companies that have global demand for their products," he said. "The world is not falling off a cliff, and some parts are doing quite well."


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.