Fund launches & closures

Pictet launches a UCITS-compliant fund of fund

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A UCITS-compliant multi-strategy hedge fund of fund has been launched by Pictet Alternative Investments.

The investment team will apply the same investment process to the new fund, Pictet Select – Callisto, that has produced the long-term track record of its Mosaic product which has produced 7.32% annualised returns since its inception in 1994.

The fund will be managed by Cristina Bagnoli Mandic who is a senior analyst and portfolio manager with PAI since 2004.

There is a lack of appeal in traditional asset classes because institutional investors are reluctant to increase their exposure to equities as a result of aging populations