Bloomberg – Pictet & Cie, Switzerland’s biggest closely held private bank, is shifting more of its $10 billion hedge fund investments to newer, lesser-known managers from the largest, most established houses to boost returns.
The bank may increase money invested in newer managers to 60 percent, said Nicolas Campiche, Geneva-based chief executive officer of Pictet Alternative Investments. It currently allocates about half of the assets in its funds of funds and tailored pools for clients to “blue-chip names.”
