Pictet Asset Management has a UCITS-compliant market neutral equity fund giving investors weekly liquidity, adding to its total return franchise.
Pictet-TR Aquila will invest primarily in liquid US and European listed companies, aiming to generate long-term capital growth with low correlation to equity markets.
To do this, it will avoid companies heavily dependent on the macro, instead focusing on firms in sectors such as healthcare, technology and consumer.
The fund, which Pictet said has been managed internally for several years, will be managed by Asim Nurmohamed, supported by Alexandre Diogo and Bharat Garg.
Head of total return equities Doc Horn said the team had "successfully managed the strategy inside of our multi-strategy funds since 2018".
"We believe this is a unique strategy within the UCITS landscape and one that will provide diversification to investor portfolios," Horn said.
Pictet said the management team would draw on the Swiss asset manager's global infrastructure and investment resources.
The Aquila fund is the tenth to be launched within Pictet's total return range, which have combined assets under management of $9.5bn.
The range includes three other market neutral funds: Agora, which focuses on European equities; Akari, which invests in Japanese stocks; and Diversified Alpha, which is multi-strategy.