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Pictet WM launches Asia discretionary mandate

Pictet WM launches Asia discretionary mandate

Pictet Wealth Management has launched a new equity discretionary mandate called Asia Leaders for clients in the region, Citywire Asia can reveal.

Launched on 1 January, the mandate comprises an active selection of Asian stocks based on themes and trends particularly attractive in Asia, such as healthcare, wealthier Asia, artificial intelligence, internet of things and robotics.

The investments are made in a concentrated pool of stocks with relative attractive valuation.

The intended investment period for the strategy, which uses the MSCI Asia ex-Japan index as a benchmark, is three years.

The Swiss private bank has other Asia-specific discretionary mandates in equities and fixed income.

‘These are the opposite of exchange-traded funds. They are really alpha-driven mandates. I think today alpha generation is back in great strides,’ said Claude Haberer, Asia-Pacific CEO.

The Hong Kong-based executive noted that Pictet’s discretionary business has been strong in Asia, with 20% of client assets in pure discretionary mandates.

Wealth managers in the region are making a push to boost their discretionary business for greater recurring income and to better deal with growing regulations.

However, many are finding it difficult to win clients, who are typically first generation entrepreneurs who like to control their portfolios.

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