Corto European Fund: Pictet Asset Management

13th Annual European Single Manager Awards 2013

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Managers at Pictet Asset Management's Corto European Fund are cautiously optimistic after last year's market recovery.

"In 2012 we saw a normalisation and our identified stock-picks and themes finally benefited. Eighty per cent of our performance came from stocks in our themes like online payment," says Nils Francke, the fund's co-manager.

“We also concentrated our portfolio further and implemented a better management of our net exposure through the use of derivatives, leaving our gross exposure m