Pictet launches EMD fund for bond chief

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Pictet Asset Management is launching an emerging corporate bond fund which will be managed by its head of emerging corporate bonds Alain Defise.

The bond manager joined the Swiss firm's London office in October last year from JP Morgan Asset Management and this is the first fund launch since he was appointed to his new role.

Prior to joining Pictet, Defise helped oversee around €2 billion across a number of funds alongside Euro Stars A-rated and former co-manager Pierre-Yves Bareau.

Among them were the JPM EM Investment Grade Bond and the JPM Emerging Markets Corporate Bond Portfolio funds.

The new fund is registered across a number of countries including Luxembourg, Austria, France, Netherlands, Germany and Singapore

Until Defise left the firm, the JPM EM Investment Grade Bond fund returned 18.7% in the 22-month period to date since launch. The JP Morgam EMBI Global index rose 24% in the same period.