Pictet raises EUR30m for PF(LUX)-Agriculture fund
| 07 July 2009 |
| Geneva and London - Pictet Funds (PF), the fund distribution arm of the Swiss private bank Pictet & Cie, has raised 30m Euros(1) for its new PF(LUX)-Agriculture fund. The new fund, launched on 29 May 2009, holds 55 individual positions. The ten largest current holdings (at 5 June 2009) are Syngenta (Switzerland), Bunge (US), Mosaic (US), Potash Corp (Canada), Wilmar (Singapore), ICI (Israel), Yara (Norway), ADM (US), Agrium (US), Incitec Pivot (Australia). |
| Pictet’s Agriculture fund is the most recent addition to Pictet’s distinctive range of thematic products, which includes the following: Water, Timber, Clean Energy, Security, Biotech, Digital Communication, Generics and Premium Brands. The PF(LUX)-Agriculture provides access to quoted companies that are expected to play a vital role in helping to supply food for a global population that is predicted by grow by nearly 40 percent between 2005 and 2050 according to a December 2007 World Bank estimate. The fund will not make investments in soft commodities. |
 Pictet’s Agriculture fund, managed by Gertjan van der Geer (Senior Investment Manager) is the most recent addition to Pictet’s distinctive range of thematic products, which includes the following: Water, Timber, Clean Energy, Security, Biotech, Digital Communications, Generics and Premium Brands. The PF(LUX)-Agriculture provides access to quoted companies that are expected to play a vital role in helping to supply food for a global population that is predicted to grow by nearly 40 percent between 2005 and 2050, according to a December 2007 World Bank estimate. The PF(LUX)-Agriculture fund’s investment process provides investors with a high exposure to pure agriculture, while also integrating basic aspects of resource efficiency, for example by favouring companies that produce more food with lower resource input. To avoid participating in food price speculation, the fund will not invest in agricultural commodities. The fund also takes a cautious approach towards genetically modified organisms (GMOs). For instance, companies deriving more than 10 per cent of their turnover from this field are excluded from the portfolio. The Agriculture fund intends to engage with selected companies through the Geneva-based corporate governance advocate, Ethos, with whom Pictet has a long established relationship in the field of sustainable investment. |
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| The new Agriculture fund has been included in Pictet’s recently launched PF(LUX)-Megatrend Selection, which comprises a equally weighted portfolio of Pictet’s theme funds. Each of these investment themes identified by Pictet offers the opportunity to benefit from megatrends (persistent, secular changes) based on the evolution of structural factors such as demographics, lifestyle, regulation, and the environment. Such megatrends have the potential for long-term growth, irrespective of short-term or speculative fluctuations in markets. The PF(LUX)-Agriculture fund is available to institutional, private banking and retail investors in Austria, Belgium, Finland, France Germany, Greece, Italy, Liechtenstein, Holland, Portugal, Singapore, Spain, Sweden, Switzerland and the UK. (1) Assets under Management at 2 July 2009 |
