Pictet AM targets WFOE, multi-asset buildout
The Swiss fund house has applied to register its first fund in Hong Kong with an eye on mutual recognition and other business. It is also planning a multi-asset hire and a China presence.
Pictet Asset Management is moving to expand its China and Hong Kong capabilities on several fronts.
The Swiss firm has applied to register its first unit trust in Hong Kong with a view to launching a multi-asset income product and is set to hire a multi-asset investment specialist in the city. It also plans to set up a wholly foreign-owned enterprise (WFOE) in China with business development and investment research capabilities.
The unit trust will be a first step towards partic…
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