Pictet to launch sterling share class for Asia ex-Japan fund

Pictet Asset Management is to launch a sterling share class for its Asia ex-Japan long/short equity fund.

The $177m (£114m) Luxemburg-domiciled Banyan fund was registered for sale in the UK yesterday and Pictet expects to make it available to retail investors next week.

The sterling share class has not yet been activated but is available to UK investors.

The fund was originally launched in Luxembourg and Geneva earlier this month and is the fourth total return fund to be launched by Pictet. The investment strategy will follow a bottom-up approach.

The management team comprises of Nidhi Mahurkar, Anthony Cheung and Olivier Doleires.

Nidhi Mahurkar, the fund manager, says: “While the West is experiencing a multi-year deleveraging, the East promises strong economic growth and rising domestic consumption for years ahead. We aim to capture this growth and protect investors during the periodic sharp reversals that can occur in these markets.”