Pictet Launches Water Fund

Apr 23 2008 | 12:12pm ET

Pictet Asset Management, the institutional division of the Swiss private bank Pictet & Cie, has launched the Pictet Water Opportunities Fund, a Cayman-domiciled public and private equity investment vehicle.

The fund is managed by Hans Peter Portner and Philippe Rohner, and focuses on high-growth water companies. The fund is targeting companies operating throughout the water cycle including supply and treatment services, technology and packaged water, according to Portner.

Between 10 and 20 private equity investments will be held in a separate special-situations share and will be issued periodically to existing holders of the liquid shares, which will consist of at least 30 holdings. Both share classes are issued in euros and U.S. dollars.

In an interview, Portner said while there is an increasing demand for water worldwide, global water infrastructure is “completely outdated.”

“Total consumption due to population growth and industrialization has increased nine-fold since 1900, while demand continues to increase at the rate of about 2% to 3% per annum, twice as fast as the world's population,” he said.

Portner also noted that about 8% of the world's water companies are currently in the private sector, a proportion that could double by 2015.

Investors purchase the liquid share class, which offers quarterly redemptions. The fund reserves the right to limit net withdrawal and subscriptions to 10 per cent of net asset value at the discretion of the fund's board.

Pictet Asset Management managed some US$126 billion in total assets at the end of last year.


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