Euro briefs

Pictet makes fixed-income funds available in Sweden

Geneva-headquartered Pictet has registered its fixed income funds for sale in Sweden, both directly to private clients and through banks, Internet platforms and unit-linked providers. Rémy Best, managing partner of Pictet Funds, said Swedish demand for global bonds is fuelled by limited domestic opportunities. Tax-efficient fund from Man targets wealthy Swiss Man Investment Products has launched its first Swiss-registered multi-strategy product. The Man Multi-Strategy CH Fund invests with managers following event driven, specialised managed futures, equity hedge, long/short equities, arbitrage and tactical and opportunistic strategies. The tax efficient fund is for the higher end of the Swiss retail market, with a E10,000 entry level. SG Hambros to grow Gibraltar client base SG Hambros, wealth management arm of SocGen, stands to increase its Ł250m (e374m) client base in Gibraltar by 50 per cent. Crédit Agricole Indosuez is closing its Gibraltarian branch and offering clients a transfer to Hambros, which will take on four private bankers from the defunct office. Bulgaria opens up to UniCredito pioneer firm UniCredito Italiano’s funds arm, Pioneer Investments, will become the first foreign firm to distribute funds in Bulgaria. Pioneer’s funds will be marketed through Bulbank, the country’s largest bank, also owned by UniCredito. The initiative is part of the Italian parent company’s strategy to gain multiple footholds in Eastern Europe. Dario Frigerio, chief executive of Pioneer, said he wanted his firm to become “a leading solutions provider” in Eastern Europe.