Pictet Asset Management is creating sterling share classes in its global, Latin American, and Asian emerging market local currency bond funds.
The Luxembourg-domiciled funds have, uo to this time, been available only in dollar and euro denominations. The sterling shares will be available in June.
Pictet, which has has a presence in emerging markets local currency debt since the late 1990’s, has over 30 specialist analysts with over $2.5 billion (£1.3 billion) under management.
More than 90% of assets across the fund range will be in government bonds. Emerging Market bond fund analyst Mark Smith of Andrews Gwynne has said that the Pictet global fund stood out in a recent review of the EM debt sector.
“This fund is very diverse in terms of the total number of positions in it portfolio. Pictet is one of the top specialists in this area and they ha a very large equity and debt team based in London.’
The global bond fund has returned over 9.5% the last year versus a 12.60% return of its benchmark. The Asian fund returned 2.57% versus 4.43%. And the emerging market bond fund for Latin American returned 9.47% versus 9.80% since launch at the beginning of 2008.