Pictet launches sovereign debt fund based on fundamentals

Pictet Asset Management has launched a global government bond fund that will invest according to an issuer's fundamentals rather than by region.

Pictet Global Bonds Fundamental fund, a Luxembourg-domiciled UCITS potfolio, will use a fundamental framework to assess an issuer's ability to honour its debts rather than adhering to a market-cap weighted benchmark. Pictet said, as such, the fund will not make a distinction between developed and emerging market sovereign borrowers. The fund will be managed by Mickael Benhaim, co-head of global and regional bonds. Pictet head of fixed income, Sébastien Eisinger, said, "As an alternative or as a substitute to traditional investing, investors should start by analysing the fundamental...