Fund launches & closures Wrappers / Structures

Pictet unveils UCITS version of Corto long/short

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Swiss-based investment manager Pictet Funds has rolled out a UCITS version of its Corto European long/short European equity fund, which has been running as a Cayman-domiciled hedge fund since August 2006.

The new Luxembourg-registered PTF(LUX)-Corto Europe Fund launched this week and is the first long/short equity strategy to be offered by Pictet Funds – which recently teamed up with Jabre Capital to launch an €800 million UCITS-compliant convertible bond fund.

The new fund will follow the absolute return approach of the Corto European fund, which runs €212 million in assets and has outperformed the MSCI Europe index by nearly 50%