Pictet Funds is rejecting subscriptions of over $1m (£689,000) into its flagship Emerging Local Currency
Debt fund to protect investors from the destabilising effects of large inflows. The portfolio has doubled in size since January, and now has $6bn in assets under management. Its strategy focuses mainly on EM local currency sovereigns and government-related debt, with some corporate credit. The fund is available on platforms including Hargreaves Lansdown’s Vantage. Stephen Barber, Pictet Funds’ group head of communications, says: “The restriction has the effect of keeping out the big asset allocators like funds of hedge funds and funds of funds of big managers. “Our main consider...
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