Pictet launches US value fund

Pictet has launched its US Equity Value Selection fund.

The $15m Luxembourg-domiciled fund will invest in large cap stocks with a market cap of $5bn or more. It will be managed by a team led by Susan Byrne, Mark Freeman and David Spika of Westwood Holdings, a US-based asset management company which runs over $8bn in US equity value assets. The fund will follow an active, bottom-up stock selection approach aimed at identifying high-quality companies whose current stock price is at a significant discount to forecast profitability. It will typically hold between 40-60 stocks in its “best ideas” portfolio with no single position greater tha...