Pictet launches Latin American Local Currency Debt fund

Pictet Funds is to offer a Latin American Local Currency Debt fund, managed by the group's institutio...

Pictet Funds is to offer a Latin American Local Currency Debt fund, managed by the group’s institutional divison Pictet Asset Management. Lead manager will be Simon Lue Fong, head of emerging market debt, who will run the fund from London. The launch follows the success of two other emerging market debt vehicles Pictet brought to market in 2006, the Emerging Local Currency Debt and Asian Local Currency Debt funds, which have combined assets under management of $1.6bn. The group said emerging US dollar debt spreads have tightened dramatically over the last few years, giving high returns...