The Advisory Firm Pictet Asset Management SA (“Pictet AM SA” or “we” or “us”) has been providing discretionary or advisory investment management services on a global scale to a wide range of international institutional clients since January 2006. On 1 April 2015, Pictet AM SA merged with Pictet Funds SA by way of absorption, a Swiss Fund Management Company registered with the Swiss Financial Market Supervisory Authority (“FINMA”) and its predecessor since 1996. The surviving entity, Pictet Funds SA, succeeded to the existing Pictet AM SA’s SEC registration and was renamed Pictet AM SA. Pictet AM SA is wholly owned by Pictet Asset Management Holding SA which is itself wholly owned by Pictet & Partners SCA, a Swiss Holding limited partnership. Sébastien Eisinger replaced Laurent Ramsey, who took another position within the Pictet Group, as Chief Executive Officer and Director of Pictet Asset Management SA in July 2023. Clients of Pictet AM SA include retirement plan assets for corporate and government entities, foundations, and other institutional investors. Furthermore, Pictet AM SA also acts as the investment adviser and sub-adviser to regulated and unregulated collective investment schemes in multiple international jurisdictions. Pictet AM SA is wholly owned by Pictet Asset Management Holding SA, Geneva that is ultimately owned by Pictet & Partners SCA, a Swiss Holding Company. Type of advisory services offered Pictet AM SA provides both advisory and discretionary investment management services to institutional clients. These services include:
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assistance in determining appropriate risk and return objectives for each client
• defining the appropriate asset mix which is most likely to achieve those objectives
• selecting or advising specific markets, currencies and securities from those categories: and
• assuming discretionary responsibility for all aspects of day-to-day management and investment of the client's account. Pictet AM SA manages a wide range of equity, fixed income and multi asset strategies including total return. Client needs and restrictions Pictet AM SA will usually tailor its management to its client’s needs. Our institutional clients usually determine in conjunction with Pictet AM SA the investment constraints to be followed in the management of their assets. Further details are provided in item 13 of this brochure. Wrap Fees programs Pictet AM SA participates in wrap fee programs where we act purely as the model portfolio provider to an investment advisory group (“the sponsor”). Any changes to the model initiated by Pictet AM SA are communicated to the Overlay Manager, who is appointed by the sponsor as the discretionary manager, for implementation at their discretion. Pictet AM SA receives a portion of the wrap fee charged by the program sponsor for providing the model portfolio but is not directly involved in implementing trades for clients of the sponsor. Asset under management Pictet AM SA managed approximately US$ 257.7 billion of client assets on a discretionary basis as at 31 December 2023 and US$ 204.0 million of client assets on a non-discretionary basis.