Fund house Pictet Asset Management has opened up its Pictet TR-Aquila fund to external investors.
The strategy, which is a Ucits-compliant global market neutral equity fund, is run by portfolio managers Asim Nurmohamed, Alexandre Diogo and Bharat Garg for several years but is now open to external investors.
The fund will now be registered for sale in Austria, Belgium, Germany, Finland, France, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, and United Kingdom.
It will complete the firm’s existing actively managed total return franchise, which has $9.5bn asset under management and includes funds such as Pictet-TR Agora.
The Pictet-TR Aquila fund is designed to achieve long-term capital growth with low correlation to equity markets by investing in sectors such as healthcare, TMT and consumer. The fund will continue to invest in liquid companies primarily in the US and Europe.
Commenting on the new arrangement, head of total return equities Doc Horn, said: ‘We are delighted to be launching the Pictet TR-Aquila fund after the Aquila team has successfully managed the strategy inside of our multi-strategy funds since 2018.
‘We believe this is a unique strategy within the Ucits landscape and one that will provide diversification to investor portfolios.’
The strategy joins the firm’s existing market neutral funds, which comprise but are not limited to the aforementioned European equity fund Agora, Japanese equity Akari, as well as the equity long/short directional funds such as Corto and Greater China equity fund Mandarin.