Aston Asset Management has launched the ASTON/Pictet International Fund, which invests primarily in companies headquartered in the developed markets of Europe, Australasia, and Far East (EAFE).
Aston will act as the investment adviser to the fund while Pictet Asset Management will act as sub-adviser, responsible for the day-to-day management of the fund.
Pictet Asset Management is the institutional investment arm of the Pictet Group, a 200-year old Geneva-based independent asset and wealth manager that has more than 900 investment professionals in 25 financial centres across the world.
"We are very pleased to be opening this new international fund with Pictet Asset Management," says Stuart D Bilton, chairman and chief executive officer of Aston. "We have been searching for an additional international strategy for some time and we were very impressed with Pictet; not only for the rigor of their investment process, but also for the stability of their management team."
The fund builds a portfolio of foreign companies trading at a discount based on its calculation of intrinsic value.
The fund's lead portfolio manager is Fabio Paolini, head of EAFE equities, developed equities team at Pictet Asset Management. Paolini is joined by co-portfolio managers Swee-Kheng Lee, senior investment manager, and Benjamin Beneche, investment manager, as well as senior client portfolio manager, Charlie Price.
"We believe our long term investment approach seeking companies with sustainable cash generation combined with a strong price discipline sets us apart from our peers," says Paolini. "We look forward to bringing our EAFE strategy to Aston investors through the ASTON/Pictet International Fund.”