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Pictet Asset Management launches first suite of CITs and chooses SEI as strategic partner
NEW YORK, Feb. 6, 2024 /PRNewswire/ -- Pictet Asset Management ("Pictet AM") has launched its first suite of four collective investment trusts (CITs) to the
About this update from Sei Investments Company
[{"type":"text","content":"NEW YORK, Feb. 6, 2024 /PRNewswire/ -- Pictet Asset Management (\"Pictet AM\") has launched its first suite of four collective investment trusts (CITs) to the US institutional retirement market. SEI Trust Company will serve as trustee for these CITs. \n\n \n \n \n \n \n \n\n \nPictet AM, a leading active asset manager began investing in emerging markets in the mid-1980s and has since developed a range of fixed income and equity EM investment strategies. In the 1990s, Pictet AM pioneered thematic equity strategies offering investors the opportunity to capitalise on the most powerful trends shaping our world.\nPictet AM has chosen SEI as a partner for the launch of Pictet Clean Energy Transition CIT, Pictet Emerging Markets Debt Blend CIT, Pictet Emerging Markets Debt Local Currency CIT and Pictet Emerging Markets Hard Currency Debt CIT.\nThe Pictet Clean Energy Transition CIT invests in companies leading the clean energy transition. The strategy supports the structural change towards a sustainable and low-carbon economy.The Pictet Emerging Markets Debt Blend CIT invests across the full spectrum of EM fixed income assets including hard currency sovereign and corporates as well as locally denominated bonds and currencies. The vehicle offers active asset allocation across the EM universe, providing access to a broad opportunity set.The Pictet Emerging Markets Debt Local Currency CIT primarily invests in locally denominated bonds and currencies. The vehicle may also invest in off-benchmark positions including hard currency sovereign and corporates with a maximum off-benchmark total of 30%The Pictet Emerging Markets Hard Currency Debt CIT primarily invests in USD denominated sovereign bonds. The vehicle may also invest in off-benchmark positions including hard currency corporates as well as locally denominated bonds and currencies with a maximum off-benchmark total of 30%.\"We are excited to offer US institutions the opportunity to access proven Pictet Asset Management strategies that were previously only available to the largest institutions via mandates,\" explained Elizabeth Dillon, CEO of Pictet Asset Management (USA) Corp. \"Launching these vehicles further reinforces our commitment to the US institutional market.\"\n\"Asset managers are enhancing distribution by launching multiple share classes in various asset classes and inves...