Pictet Asset Management has launched a multi-asset fund for the long-standing management trio it hired from Barings.
The team of Percvial Stanion, Andrew Cole and Shaniel Ramjee resigned from Barings last year, as revealed by Investment Adviser, and are now set to launch a new fund to rival.
Pictet said the fund would aim to deliver returns of cash plus 4 per cent per annum, net of fees over a 3-5 year period.
Mr Stanion said the fund was aimed at investors “who are looking for steady returns while controlling the volatility of their portfolio”.
In a bid to gather assets quickly, the company has also struck a deal with platform Cofunds which will see the fund sold with reduced management fees of 27.5 basis points through its E share class. This will be available until the end of the year or for the first £400m.
The management charge on the standard share class is 55 basis points, making the total expense ratio (TER) 96 basis points compared to the 68.5 basis point TER available through Cofunds.
Other platforms giving access to the fund include Fidelity FundsNetwork, Transact, Novia, James Hay, Alliance Trust Savings, Zurich and Aviva.
