Geneva-based Pictet Asset Management has launched an unconstrained global credit fund.
The Ucits-compliant Pictet Strategic Credit Fund aims to provide risk-adjusted returns for long-term investors though a diversified portfolio designed to reduce risks, protect capital and capture higher yields.
The strategy also aims to achieve a low correlation to traditional risky assets by actively allocating assets across global credit markets.
Jon Mawby, head of investment grade credit at Pictet Asset Management and lead manager for the fund, said: “When the credit markets are delivering equity-type returns at bond-type risks – in other words, when there has been a panic – it makes sense to buy into pockets of value.
“And when investor confidence gets ahead of itself, when credit starts to deliver bond-type returns for equity-type risk, then it’s important to rebalance and retrench until the next cycle hits.”
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