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About Pictet
Today, Pictet & Cie is considered one of the leading banks in continental Europe specialising in wealth management. Run as a partnership, Pictet & Cie's activities concentrate exclusively on private wealth management and the associated activities.

Thus, unlike the shareholders in a limited company whose liabilities are restricted to their share of the capital, Pictet & Cie's seven Partner-Managers have collective and unlimited liability for the Bank's commitments over their own personal wealth. They also combine ownership and management of the Bank in their hands.

In Switzerland, this status which entitles them to enjoy the protected and specific status of "private banker" and to add the "& Cie" to their corporate name, is recognised only for businesses set up by individuals or as partnerships.

The main asset classes

The asset allocation for balanced portfolios comprises five main asset classes and several sub-categories.
 
Cash/liquid assets
Pictet views cash or liquid assets as an integral part of any investment strategy, the purpose of this "cushion" being to allow asset managers to exploit any future opportunities thrown up by the markets without having to sell existing positions in the portfolio.

Cash is used in the "Bonds" compartment of the portfolio as a means of managing duration and in order to combine various maturities in an optimal way.

Bonds
Most bonds selected for investment must have a minimum A credit rating. Pictet also invests in corporate bonds, emerging-market debt and high-yield bonds via investment funds to achieve a high degree of credit risk diversification and to provide clients with attractive returns compared to the level risk being taken.

Equities
When investing in shares, a key part of the process is deciding which region, sector, style ('growth' or 'value') or size ('small cap' or 'blue chip') to select. Two other aspects are also taken into consideration:

  • Occasionally, top-down decisions are taken to invest in shares by buying indexed products such as ETFs (exchange-traded funds) or other related instruments; and
  • In fields offering high risk-adjusted returns, recourse to investment funds helps to achieve a sound degree of diversification.

Alternative funds and third-party funds
Pictet & Cie's "open architecture" enables us to offer clients an extensive range of alternative investments or hedge funds used as a means of diversifying the performance drivers. Our strength in the fields of hedge funds and private equity also lies in our privileged access to a broad network of managers, which includes some of the best fund managers around.

Investments in hedge funds are scrupulously selected by an expert team which works in conjunction with Pictet & Cie's Investment Committee. Strenuous efforts are made to ensure a sufficient level of diversification for most uncorrelated or only loosely correlated alternative investment strategies and approaches, with funds of funds the investment of choice.

Pictet Alternative Investments

Commodities
Our investment strategies also include commodities, allowing our clients to further optimise the return and risk profiles of their portfolios.