Equities

Our investment teams include regional specialists who cover the global equity markets. Drawing on a range of internal and external research inputs and using a disciplined portfolio construction process, we build Global, EAFE, European, North American and Japanese equity portfolios to meet our clients’ needs.

Portfolios are constructed using a bottom-up investment process driven by fundamental research.

We also manage Sharia-compliant portfolios.

Although Japanese Equities is part of the regional equities team, the market has distinct characteristics not found elsewhere. We take a bottom-up approach. We aim to find companies which benefit from favourable secular forces, reinforced by macroeconomic/cyclical trends. As part of our research, we draw on the local resources of our Tokyo-based equity investment team.

Our Japanese equity style is active and systematic. We aim to outperform throughout the economic cycle and believe that neither growth nor value are investment approaches that will outperform consistently.

Our Zurich-based team seeks to create value with a disciplined, bottom-up approach to actively managing Swiss equities. Being neither growth nor value investors allows us to find opportunities across the market and throughout the economic cycle. The team looks for companies with strong business franchises and attractive cashflow return on investment.

We use a proprietary tool, based on a customised version of Credit Suisse HOLT ValueSearch, modelling future cash flows, profitability and growth of capital. This tool helps us to identify companies which trade below their intrinsic value.

Pictet Asset Management is a global pioneer and leader in the Emerging Markets asset class.

Our process with a distinctive valuation-based on methodology has been in place for over twenty years. Our clients include some of the world’s largest pension funds.

In 2007 Pictet Asset Management received the Global Investor Award for Investment Excellence in the Emerging Market Equity category. This accolade recognises consistent performance, rigorous investment processes, commitment to transparency and best practice.

Emerging Markets are prone to exaggerated cycles of rise and fall. Market inefficiencies abound. We seek to identify mispricings by ranking companies in each industry by ‘Replacement Value’ of installed capacity. We believe that only an active and disciplined investment style can consistently identify and profit from the mispricings prevalent in Emerging Markets.

Our highly experienced and integrated thirteen member team employs a value-based, research driven bottom-up method to investing in Global Emerging Markets. We search the universe for undervalued shares in each industry and, subject to certain qualitative tests, buy them.

The backbone of Pictet Asset Management’s Emerging Market process is our long-established proprietary database which we screen for the most attractive investment candidates according to our distinctive methodology of adjusted capacity replacement cost.

Our Emerging Europe investment team is part of our overall Emerging Market resource. We employ a similar investment approach drawing on our proprietary emerging markets database.

In this region, however, factors such as corporate governance, management, economic instability and institutional reform need to be given greater prominence in reaching investment decisions. We have invested in the markets of the former Soviet bloc since shortly after the Berlin Wall fell in November 1989.

Among the portfolios we manage, The Eastern European Investment Trust plc, launched in 1994, has been a pioneer among funds investing in this region.

Our Asia ex-Japan investment team is part of our Global Emerging Market resource. We employ a similar investment approach and draw extensively on the proprietary emerging markets database.

However, for this region, which forms about half the global emerging universe, we combine our bottom-up process with an asset allocation framework based on surplus economic liquidity, risk & sentiment, and valuation. We have a strong track record going back over more than a decade.

With an investment universe of over ten thousand companies, smaller companies provide excellent underesearched investment opportunities. In recent decades, smaller companies have consistently been among the top performers worldwide.

We have built our skills in smaller companies investment since 1986 with a bottom-up approach. We believe that success in the small cap market requires experience, discipline and a commitment to rigorous fundamental research.