Pictet Asset Management

About

About

Pictet Asset Management believes in disciplined active management through bottom-up stock selection and seeks to identify stocks trading at a discount to its calculation of intrinsic value.

AMG Funds From This Firm

APINX

Pictet International Fund

The Fund seeks to provide long-term capital appreciation by investing in non-U.S. companies.

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Approach & Philosophy

Philosophy and Approach

Our Philosophy

Pictet Asset Management invests in businesses that have the ability to generate strong cash flows, reinvest those flows in high returning businesses, and that trade below a conservative estimate of intrinsic value.

Pictet Asset Management believes that this approach conducted in a disciplined way leads to superior returns.

Our Approach

The Pictet Asset Management approach focuses on four drivers:

  • Cash flow: Cash cannot be manipulated or distorted by accounting policies. Cash is the life blood of a company and gives the ability to grow and pay dividends.
  • Return on investment: Cash flow growth needs to be profitable after taking into account the capital employed to generate those cash flows. While history is a guide, Pictet Asset Management focuses on the incremental rate and sustainability of future investment returns.
  • Growth and reinvestment opportunities: Pictet Asset Management seeks businesses with scope to grow by investing the cash they generate in a way that drives growth in free cash flow per share.
  • Value: Pictet Asset Management’s objective is simple: establish what something is worth, and pay a lot less for it. Pictet Asset Management’s assessment of this absolute, or ‘intrinsic value’ creates the key reference point for a patient and disciplined investment process.

Fund Managers

Fund Managers

Fabio Paolini, CFA

Co-Head of EAFE Equities

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Benjamin Beneche, CFA

Co-Head of EAFE Equities

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