Pictet adds Sterling share class to Water fund

Pictet is adding a sterling share class to its PF (Lux) Water fund in response to growing client dema...

Pictet is adding a sterling share class to its PF (Lux) Water fund in response to growing client demand. It claims the Sicav is the first specialist water fund available to sterling investors. The Luxembourg vehicle has been available to UK investors since inception in January 2000 but Pictet admits take up has been restricted by the lack of sterling shares. The fund employs a growth style, investing primarily in mid-cap companies, split 40% in North America, 55% in Europe and 5% in the rest of the world. Head of UK sales at the group Paul Gaston said: “The sterling class should allo...