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Investment Policy Change - Pictet various funds

Changes to the investment policy of funds: Asian Local Currency, Emerging Local Currency Debt, Premium Brands, Timber and Water.These changes will take effect on 16 March 2016.

Pictet - Asian Local Currency Debt fund

The following sentences will be added to the investment policy:


“The Compartment may invest up to 49% of its net assets in bonds and other debt securities denominated in RMB through (i) the QFII quota granted to an entity of the Pictet Group (subject to a maximum of 35% of its net assets) and/or (ii) the RQFII quota granted to an entity of the Pictet Group.”


“Investments in China may be performed, inter alia, on the China Interbank Bond Market (“CIBM”).” “The Compartment may also invest up to 20% of its assets in Sukuk al Ijarah, Sukuk al Wakalah, Sukuk al Mudaraba or any other type of Shariah-compliant fixed-income securities within the limits of the grand-ducal regulation dated 8 February 2008.”


“The Compartment may be exposed to non-investment grade debt securities, including distressed and defaulted securities.”


Pictet - Emerging Local Currency Debt fund

The following sentences will be added to the investment policy:


“The Compartment may invest up to 30% of its net assets in bonds and other debt securities denominated in RMB through (i) the QFII quota granted to an entity of the Pictet Group and/or (ii) the RQFII quota granted to an entity of the Pictet Group.”


“Investments in China may be performed, inter alia, on the China Interbank Bond Market (“CIBM”).” “The Compartment may be exposed to non-investment grade debt securities, including distressed and defaulted securities.”


Pictet - Premium Brands and Pictet - Water funds


The following sentences will be added to the investment policy of both funds:


“The Compartment may invest up to 30% of its net assets in China A Shares through (i) the QFII quota granted to an entity of the Pictet Group, (ii) the RQFII quota granted to an entity of the Pictet Group and/or (iii) the Shanghai-Hong Kong Stock Connect programme. The Compartment may also use financial derivative instruments on China A Shares.”


Pictet - Timber fund

The following sentences will be added to the investment policy:


“The Compartment may invest up to 30% of its net assets in China A Shares through (i) the QFII quota granted to an entity of the Pictet Group, (ii) the RQFII quota granted to an entity of the Pictet Group and/or (iii) the Shanghai-Hong Kong Stock Connect programme. The Compartment may also use financial derivative instruments on China A Shares.”


Notifications from Pictet Asset Management can be viewed opposite.