16/05/2012
Pictet Alternative plans to create a managed accounts platform
At the end of June, Pictet Alternative Investments (PAI) will decide whether to proceed with plans to create a managed account platform, developed “with an existing actor in the creation of managed account platforms,” Nicolas Campiche, CEO of PAI, has announced at a presentation in Paris.“Initially,” the platform will be dedicated to CTAs, due to the advantages these present in terms of “transparency, liquidity and governance.” The managers concerned will largely use “liquid and inexpensive” futures, with a quantitative approach.Later, PAI may extend the platform to accept 40% to 50% of the 120 hedge fund managers with whom the firm ordinarily works.As of the end of December, PAI had assets under management of USD12.3bn, of which USD9.4bn were in hedge funds (USD5.3bn) and funds of hedge funds (USD4.1bn), and USD2.9bn in private equity. In order to avoid conflicts of interest, no products from Pictet Asset Management are held in portfolios. Net inflows in 2011 totalled USD589bn in hedge funds and funds of hedge funds, and USD839m in private equity.As of the end of March 2012, assets under management had increased further, to USD12.6bn, of which about USD200m were from net subscriptions.
