Pictet Asset Management has added a new fixed income strategy to its USD10 billion actively managed total return franchise – the Pictet TR-Sirius fund. The strategy employed by Sirius is liquid global macro emerging market (EM) long-short fixed income.
Pictet TR-Sirius invests in a wide range of EM sovereign bonds, interest rates and currencies, with the aim of generating alpha in all market conditions. It intends to minimise directional bias to beta or carry and avoid downside risk. The fund has no benchmark constraints and aims to exceed the LIBOR overnight rate by 6-8 per cent gross return, with an expected annual volatility of 4-6 per cent over a three-to-five-year horizon.
This strategy is being offered externally for the first time. It has been led and managed internally from London for the past three years by Ketan Gada who is supported by Thibaut Nocella and Rav Singh.
The highly experienced team members have strong, complementary EM backgrounds and will draw on Pictet Asset Management’s extensive emerging market investment resources.
Launching on 8 August, Pictet TR-Sirius is UCITS IV compliant, with weekly liquidity and daily pricing. The fund is registered for sale in Austria, Belgium, Denmark, France, Germany, Great Britain, the Netherlands, Norway, Spain, Finland and Sweden.
“This strategy testifies to our continued innovation and commitment to emerging markets and the expansion of our total return fixed income franchise,” says Fixed Income CIO, Raymond Sagayam (pictured). “This strategy will offer investors participation in the advantages of emerging markets with lower volatility.”