Pictet Funds (Europe) S.A.

Fund Company

Pictet Funds (Europe) S.A. - http://www.pictetfunds.com
 
Founded in Geneva in 1805, Pictet is today one of Switzerland's largest private banks, with assets under management and custody totalling USD 377 billion (CHF 357 billion / EUR 297 billion) at the end of June 2012.  Since it was founded, Pictet & Cie has focused solely on managing the wealth of private and institutional investors. It does not engage in any form of investment banking, nor does it issue any commercial, mortgage or unsecured loans.

Pictet & Cie is a partnership owned by eight managing Partners who stand personally and entirely liable for the Bank's commitments. As such, the Bank enjoys total financial independence, controls the entire chain of its operations and does not need the approval of shareholders in taking decisions. It abides by the strictest standards in managing the risks inherent to its business, always acting in the best interests of its clients.

Pictet & Cie is monitored by FINMA (Swiss Financial Market Supervisory Authority) and offers its clients the utmost financial security by having capital adequacy ratios far superior to the legal requirements in Switzerland, which are already some of the most stringent in the world. The Bank has ample liquidity and does not rely on any external sources of financing for the smooth running of its business.

And finally, in keeping with the tradition of private bankers, Pictet & Cie conducts hardly any transactions for its own account and acts solely in a fiduciary capacity on behalf of its clients.

Company

Fund Name

ISIN

Currency

Inception Date

Rating

Risk

Profile

Pictet Funds (Europe) S.A.

Pictet Indian Equities P USD Cap

LU0070964530

USD

26/06/1996

2

Medium

This compartment aims to invest directly or indirectly in transferable securities, issued by companies and institutions that are based in India or have their main activity in India. The compartment will invest a minimum of two-thirds of its total assets or wealth in equities issued by companies that are headquartered in India or conduct the majority of their activity in India.

Pictet Funds (Europe) S.A.

Pictet Biotech P USD Cap

LU0090689299

USD

30/11/1995

3

Medium

This compartment aims to achieve growth by investing in equities or similar securities issued by biopharmaceutical companies that are at the forefront of innovation in the medical sector. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in this sector. To capitalise on particularly innovative projects in the drugs industry, the Biotech Compartment may invest up to 10% of its net assets in Private Equity and/or unlisted securities.

Pictet Funds (Europe) S.A.

Pictet Japanese Eq Opport P Cap

LU0095053426

JPY

16/02/1999

4

Medium

The fund's objective is to enable investors to benefit from growth in the Japanese equity market.  The Compartment will seek to maximize the total return in terms of Japanese yen through capital gains from investment in a broadly diversified portfolio of Japanese equities by maximising the potential for alpha generation through the use of “130/30” management, while observing the principle of risk spreading.

Pictet Funds (Europe) S.A.

Pictet Digital Communicat P USD Cap

LU0101692670

USD

14/11/1997

5

Medium

The investment policy of this compartment aims to achieve capital growth by investing at least two thirds of its total assets or wealth in equities or any other securities related to securities issued by companies using digital technology to offer interactive services and/or products related to interactive services in the communications sector. The risks will be minimised by a balanced geographical spread in the portfolio, since the investment universe is not limited to a specific geographic region.

Pictet Funds (Europe) S.A.

Pictet Water P EUR Cap

LU0104884860

EUR

19/01/2000

4

Medium

The fund aims to invest in equities issued by companies operating in the water and air sector worldwide. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in the water sector. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet Water R EUR Cap

LU0104885248

EUR

29/02/2000

4

Medium

The fund aims to invest in equities issued by companies operating in the water and air sector worldwide. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in the water sector. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

PF-Asian Equities (Ex Japan)-I

LU0111012836

USD

27/04/2000

3

Medium

The investment seeks to achieve long-term capital growth.  It invests at least two-thirds of its total assets or wealth in equities issued by companies that have their registered headquarters and/or conduct the majority of their business in Asian countries, with the exception of Japan.

Pictet Funds (Europe) S.A.

Pictet Global Emerg Debt P USD Cap

LU0128467544

USD

13/04/1999

4

Low

The compartment’s objective is to seek revenue and capital growth by investing its portfolio in bonds and money market instruments in emerging countries, within the limits allowed by the investment restrictions.  At least two-thirds of the total assets or wealth of the compartment will be invested in bonds and other debt instruments issued or guaranteed by national or local governments of emerging countries and/or other issuers domiciled in emerging countries.

Pictet Funds (Europe) S.A.

Pictet Fix In Fd Glob Emerg Dept P

LU0128468609

USD

23/01/2001

4

Low

The compartment’s objective is to seek revenue and capital growth by investing its portfolio in bonds and money market instruments in emerging countries, within the limits allowed by the investment restrictions.  At least two-thirds of the total assets or wealth of the compartment will be invested in bonds and other debt instruments issued or guaranteed by national or local governments of emerging countries and/or other issuers domiciled in emerging countries.

Pictet Funds (Europe) S.A.

Pictet Fix Inc Fd Eur Corp Bd P Cap

LU0128470845

EUR

18/11/1999

3

Medium

This Compartment invests at least two-thirds of its assets without geographic limitation in a diversified portfolio of bonds and convertible bonds issued by private companies, within the limits allowed by the investment restrictions. Investments in convertible bonds will not exceed 20% of the compartment’s net assets. Investments whose rating is less than Moody’s Baa3 or Standard & Poor’s BBB- or equivalent quality based on the manager’s analysis will not exceed 25% of the net assets of the compartment, provided that the exposure to an issuer of that quality does not exceed 1.5% of the compartment’s net assets.

Pictet Funds (Europe) S.A.

Pictet Fix Income Fd Glob Corp Bd P

LU0128471819

EUR

18/11/1999

3

Medium

This Compartment invests at least two-thirds of its assets without geographic limitation in a diversified portfolio of bonds and convertible bonds issued by private companies, within the limits allowed by the investment restrictions. Investments in convertible bonds will not exceed 20% of the compartment’s net assets. Investments whose rating is less than Moody’s Baa3 or Standard & Poor’s BBB- or equivalent quality based on the manager’s analysis will not exceed 25% of the net assets of the compartment, provided that the exposure to an issuer of that quality does not exceed 1.5% of the compartment’s net assets.

Pictet Funds (Europe) S.A.

Pictet USD Government Bonds P Cap

LU0128488383

USD

10/02/1992

3

Medium

This compartment invests mainly in a diversified portfolio of bonds and other debt securities denominated in US dollars issued or guaranteed by national or local governments, or by supranational organisations, within the limits allowed by the investment restrictions. The investments not denominated in US dollars will generally be hedged in order to avoid exposure to a currency other than the US dollar. In addition, the compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet Fixed Income Fd USD Bonds P

LU0128488896

USD

02/05/2001

3

Medium

This compartment invests mainly in a diversified portfolio of bonds and other debt securities denominated in US dollars issued or guaranteed by national or local governments, or by supranational organisations, within the limits allowed by the investment restrictions. The investments not denominated in US dollars will generally be hedged in order to avoid exposure to a currency other than the US dollar. In addition, the compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet EUR Bonds P Cap

LU0128490280

EUR

05/01/1999

3

High

This Compartment invests at least two-thirds of its assets in a diversified portfolio of bonds and convertible bonds, within the limits allowed by the investment restrictions. These investments may be made in all markets while seeking capital growth in the base currency. Investments in convertible bonds may not exceed 20% of the net assets of the compartment and convertible bonds quoted at over 140% will be sold. In addition, the Compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet EUR Bonds P Dy Dis

LU0128490793

EUR

04/05/2001

3

High

This Compartment invests at least two-thirds of its assets in a diversified portfolio of bonds and convertible bonds, within the limits allowed by the investment restrictions. These investments may be made in all markets while seeking capital growth in the base currency. Investments in convertible bonds may not exceed 20% of the net assets of the compartment and convertible bonds quoted at over 140% will be sold. In addition, the Compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet STM Mkt P EUR Cap

LU0128494191

EUR

08/10/1998

3

Medium

The compartment’s objective is to offer investors a high level of protection of their capital denominated in euros and to provide a return in line with money market rates. To do this, the compartment invests mainly in money market instruments and other debt securities issued by public or private issuers (such as bonds, Treasury bills and securities issued by governments or their departments, eurobonds and floating-rate bonds). The residual maturity of each investment will not exceed 397 days. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment horizon will primarily be short-term.

Pictet Funds (Europe) S.A.

Pictet Fix In Fd EUR Liquidity P

LU0128494514

EUR

08/10/1998

3

Medium

The compartment’s objective is to offer investors a high level of protection of their capital denominated in euros and to provide a return in line with money market rates. To do this, the compartment invests mainly in money market instruments and other debt securities issued by public or private issuers (such as bonds, Treasury bills and securities issued by governments or their departments, eurobonds and floating-rate bonds). The residual maturity of each investment will not exceed 397 days. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment horizon will primarily be short-term.

Pictet Funds (Europe) S.A.

Pictet Short Term Money Mkt USD Cap

LU0128496485

USD

26/08/1997

4

Medium

The compartment’s objective is to offer investors a high level of protection of their capital denominated in Japanese yen and to provide a return in line with money market rates. To do this, the compartment invests mainly in money market instruments and other debt securities issued by public or private issuers (such as bonds, Treasury bills and securities issued by governments or their departments, eurobonds and floating-rate bonds). The residual maturity of each investment will not exceed 397 days. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment horizon will primarily be short-term.

Pictet Funds (Europe) S.A.

Pictet Funds (LUX)USD Liquidity P

LU0128497293

USD

26/08/1997

4

Medium

The compartment’s objective is to offer investors a high level of protection of their capital denominated in Japanese yen and to provide a return in line with money market rates. To do this, the compartment invests mainly in money market instruments and other debt securities issued by public or private issuers (such as bonds, Treasury bills and securities issued by governments or their departments, eurobonds and floating-rate bonds). The residual maturity of each investment will not exceed 397 days. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment horizon will primarily be short-term.

Pictet Funds (Europe) S.A.

Pictet STM Mkt P CHF Cap

LU0128498267

CHF

04/11/1997

3

Medium

The compartment’s objective is to offer investors a high level of protection of their capital denominated in Swiss francs and to provide a return in line with money market rates. To do this, the compartment invests mainly in money market instruments and other debt securities issued by public or private issuers (such as bonds, Treasury bills and securities issued by governments or their departments, eurobonds and floating-rate bonds). The residual maturity of each investment will not exceed 397 days. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment horizon will primarily be short-term.

Pictet Funds (Europe) S.A.

Pictet STM Mkt P dy CHF Dis

LU0128498697

CHF

04/11/1997

3

Medium

The compartment’s objective is to offer investors a high level of protection of their capital denominated in Swiss francs and to provide a return in line with money market rates. To do this, the compartment invests mainly in money market instruments and other debt securities issued by public or private issuers (such as bonds, Treasury bills and securities issued by governments or their departments, eurobonds and floating-rate bonds). The residual maturity of each investment will not exceed 397 days. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment horizon will primarily be short-term.

Pictet Funds (Europe) S.A.

Pictet Eastern Europe P EUR Cap

LU0130728842

EUR

29/06/1995

2

High

This compartment invests at least two-thirds of its total assets or wealth in transferable securities issued by companies with headquarters in and/or whose main activity is conducted in Eastern European countries. This compartment will also invest in securities traded on the Russian “RTS Stock Exchange”. This compartment will hold a diversified portfolio, generally composed of securities issued by listed companies. These securities may be ordinary or preference shares, convertible bonds and to a lesser extent warrants on transferable securities and options. In addition, the compartment may also invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet Emerging Markets P USD Cap

LU0130729220

USD

13/09/1991

2

Medium

This compartment invests at least two-thirds of its total assets or wealth in securities issued by companies that are headquartered in and/or have their main activity in emerging countries. Emerging countries are defined as those considered, at the time of investing, as industrially developing countries by the International Monetary Fund, the World Bank, the International Finance Corporation (IFC) or one of the leading investment banks. This compartment will also invest in securities traded on the Russian “RTS Stock Exchange”.

Pictet Funds (Europe) S.A.

Pictet Europe Index R EUR Cap

LU0130731713

EUR

02/07/2001

3

Medium

This compartment aims to enable investors to benefit from growth in the European equities market through a vehicle that accurately reflects the performance of the MSCI Europe index.

Pictet Funds (Europe) S.A.

Pictet European Eq Select P EUR Cap

LU0130731986

EUR

30/10/1990

3

High

This compartment’s objective is to enable investors to benefit from growth in the European equities market. This compartment will also invest in securities traded on the Russian “RTS Stock Exchange”. The compartment will invest a minimum of two-thirds of its total assets or wealth in equities issued by companies that are headquartered in Europe or conduct the majority of their activity in Europe. The portfolio will be composed of a limited selection of securities that, in the opinion of the manager, have the most favourable outlook.

Pictet Funds (Europe) S.A.

Pictet Small Cap Europe P EUR Cap

LU0130732364

EUR

13/09/1991

4

Medium

This compartment will invest at least two-thirds of its total assets or wealth in equities issued by small-capitalisation companies that are headquartered in and/ or have their main activity in Europe. European small-capitalisation companies that, at the time of investment, have a capitalisation of less than 3.5 billion euros. The compartment will invest a minimum of 75% of its net assets in shares issued by companies that have their registered headquarters in the European Economic Area (excluding Liechtenstein).

Pictet Funds (Europe) S.A.

Pictet USA Index P USD Cap

LU0130732877

USD

04/11/1999

4

Medium

This compartment aims to enable investors to benefit from growth in the American equity market through a vehicle that accurately reflects the performance of the S&P 500 Index.

Pictet Funds (Europe) S.A.

Pictet Fds-Usa Index R

LU0130733172

USD

17/07/2001

4

Medium

This compartment aims to enable investors to benefit from growth in the American equity market through a vehicle that accurately reflects the performance of the S&P 500 Index.

Pictet Funds (Europe) S.A.

Pictet Fixed Inc Fd Global Bd P Cap

LU0133805894

USD

23/08/2001

3

Medium

This compartment invests mainly in a diversified portfolio of bonds and other debt securities issued or guaranteed by national or local governments, or by supranational organisations, within the limits allowed by the investment restrictions. These investments may be made in all markets while seeking capital growth in the base currency. In addition, the compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet Fixed Income Fd Global Bd P

LU0133805977

USD

23/08/2001

3

Medium

This compartment invests mainly in a diversified portfolio of bonds and other debt securities issued or guaranteed by national or local governments, or by supranational organisations, within the limits allowed by the investment restrictions. These investments may be made in all markets while seeking capital growth in the base currency. In addition, the compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet EUR High Yield P Cap

LU0133807163

EUR

27/09/2001

2

High

This compartment invests at least two-thirds of its total assets or wealth in a diversified portfolio of second quality high-yield bonds and convertible bonds with a minimum rating equivalent to B-, within the limits allowed by the investment restrictions. The compartment may also invest up to 10% of its net assets in securities pledged by assets, securities of issuers enjoying state support, issues securitised by bonds, issues securitised by loans and mortgages (including the securitization of such debts).

Pictet Funds (Europe) S.A.

Pictet Fix In Fd EUR High Yield P

LU0133807593

EUR

27/09/2001

2

High

This compartment invests at least two-thirds of its total assets or wealth in a diversified portfolio of second quality high-yield bonds and convertible bonds with a minimum rating equivalent to B-, within the limits allowed by the investment restrictions. The compartment may also invest up to 10% of its net assets in securities pledged by assets, securities of issuers enjoying state support, issues securitised by bonds, issues securitised by loans and mortgages (including the securitization of such debts).

Pictet Funds (Europe) S.A.

Pictet CHF Bonds P Cap

LU0135487659

CHF

10/02/1992

2

Medium

This compartment invests at least two-thirds of its assets in a diversified portfolio of bonds and a maximum of one-third of its assets in money market instruments and convertible bonds, with this last category not exceeding 20%, within the limits allowed by the investment restrictions. Investments in convertible bonds may not exceed 20% of the net assets of the compartment and convertible bonds quoted at over 140% of their nominal value will be sold.

Pictet Funds (Europe) S.A.

Pictet Piclife P CHF Cap

LU0135488467

CHF

18/08/1993

3

Medium

The aim of this compartment is to allow investors to benefit from the general investment strategy of Pictet Asset Management SA, by providing the opportunity to invest in an overall balanced portfolio that will be broadly inspired by the investment policy applicable to the Swiss pension funds. The Compartment will invest principally in equities and fixed-income securities throughout the world. In addition, the Compartment may also invest up to 10% of its net assets in UCIs. If the manager deems it necessary and in the best interest of the shareholders, the Compartment may hold up to 100% of its net assets in liquidities including, among others, deposits, money market instruments, and money market investment funds (within the 10% limit mentioned above).

Pictet Funds (Europe) S.A.

Pictet European Sustain Eq P Cap

LU0144509717

EUR

30/09/2002

3

Medium

This compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies that are headquartered in and/or have their main activity in Europe and will aim to benefit from the superior potential of companies practising sustainable development principles in their activities. The manager uses appropriate information sources on environmental, social and corporate governance aspects to evaluate companies and define the investment universe. The portfolio is constructed using a quantitative method that adapts the portfolio according to financial stability, and the objective is to build a portfolio with superior financial and sustainable characteristics.

Pictet Funds (Europe) S.A.

Pictet Asian Eq (ex Jap) P USD Cap

LU0155303323

USD

27/11/2002

2

Medium

The investment seeks to achieve long-term capital growth.  It invests at least two-thirds of its total assets or wealth in equities issued by companies that have their registered headquarters and/or conduct the majority of their business in Asian countries, with the exception of Japan.

Pictet Funds (Europe) S.A.

Pictet Fd (LUX) Greater China P Cap

LU0168449691

USD

26/05/2003

3

Medium

This Compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies that are headquartered in and/or conduct their main activity in Hong Kong, China or Taiwan. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet Glob Emerg Debt HP CHF Cap

LU0170990948

CHF

08/08/2003

5

Medium

The compartment’s objective is to seek revenue and capital growth by investing its portfolio in bonds and money market instruments in emerging countries, within the limits allowed by the investment restrictions.  At least two-thirds of the total assets or wealth of the compartment will be invested in bonds and other debt instruments issued or guaranteed by national or local governments of emerging countries and/or other issuers domiciled in emerging countries.

Pictet Funds (Europe) S.A.

Pictet Global Emerg Debt HP EUR Cap

LU0170994346

EUR

04/07/2003

4

Low

The compartment’s objective is to seek revenue and capital growth by investing its portfolio in bonds and money market instruments in emerging countries, within the limits allowed by the investment restrictions.  At least two-thirds of the total assets or wealth of the compartment will be invested in bonds and other debt instruments issued or guaranteed by national or local governments of emerging countries and/or other issuers domiciled in emerging countries.

Pictet Funds (Europe) S.A.

PFIF Eur High Yield Hp Cap Chf

LU0174610443

CHF

03/09/2003

4

High

This compartment invests at least two-thirds of its total assets or wealth in a diversified portfolio of second quality high-yield bonds and convertible bonds with a minimum rating equivalent to B-, within the limits allowed by the investment restrictions. The compartment may also invest up to 10% of its net assets in securities pledged by assets, securities of issuers enjoying state support, issues securitised by bonds, issues securitised by loans and mortgages (including the securitization of such debts).

Pictet Funds (Europe) S.A.

Pictet Japan Equity Sel P JPY Cap

LU0176900511

JPY

28/11/2003

2

Medium

This fund aims to enable investors to benefit from growth in the Japanese equity market.  The fund will invest a minimum of two-thirds of its total assets or wealth in equities issued by companies that are headquartered in Japan or conduct the majority of their activity in Japan.

Pictet Funds (Europe) S.A.

Pictet Generics P USD Cap

LU0188501257

USD

30/06/2004

4

High

The fund's objective is to achieve capital growth by investing at least two-thirds of its total assets or wealth in equities or similar securities issued by companies that are active in the field of generic drugs.

Pictet Funds (Europe) S.A.

Pictet Biotech HP EUR Cap

LU0190161025

EUR

30/06/2004

1

High

This compartment aims to achieve growth by investing in equities or similar securities issued by biopharmaceutical companies that are at the forefront of innovation in the medical sector. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in this sector. To capitalise on particularly innovative projects in the drugs industry, the Biotech Compartment may invest up to 10% of its net assets in Private Equity and/or unlisted securities.

Pictet Funds (Europe) S.A.

Pictet Water P dy EUR Dis

LU0208610294

EUR

16/12/2004

4

Medium

The fund aims to invest in equities issued by companies operating in the water and air sector worldwide. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in the water sector. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet Premium Brands R EUR Cap

LU0217138725

EUR

31/05/2005

2

High

This compartment will apply a capital growth strategy by investing at least two-thirds of its total assets or wealth in equities issued by companies operating in the premium brands sector, which offer high quality services and products. These companies benefit from strong market recognition because they have the ability to create or channel consumer trends. They may also have a certain capacity to set prices. These companies are particularly specialised in highend products and services or in financing this type of activity. The compartment’s investment universe will not be limited to any particular region.

Pictet Funds (Europe) S.A.

Pictet Premium Brands P EUR Cap

LU0217139020

EUR

31/05/2005

2

High

This compartment will apply a capital growth strategy by investing at least two-thirds of its total assets or wealth in equities issued by companies operating in the premium brands sector, which offer high quality services and products. These companies benefit from strong market recognition because they have the ability to create or channel consumer trends. They may also have a certain capacity to set prices. These companies are particularly specialised in highend products and services or in financing this type of activity. The compartment’s investment universe will not be limited to any particular region.

Pictet Funds (Europe) S.A.

Pictet II EUR Bonds P Cap

LU0222459298

EUR

23/06/2005

3

Medium

This compartment invests at least two-thirds of its assets in a diversified portfolio of bonds, convertible bonds and money market instruments, within the limits allowed by the investment restrictions. These investments may be made in all markets while seeking capital growth in the base currency.

Pictet Funds (Europe) S.A.

Pictet PS II Short Term MM P Cap

LU0222460460

USD

23/06/2005

4

Medium

This compartment invests all its total assets/total wealth in the USD Liquidity compartment of the Luxembourg SICAV Pictet Funds (LUX). This compartment aims to offer investors a high level of protection for their capital denominated in U.S. dollars by investing in fixed-income transferable securities, such as bonds, Treasury bills and securities issued by governments or their departments, euro bonds and floating-rate bonds. The residual maturity of each investment will not exceed three years.

Pictet Funds (Europe) S.A.

Pictet II EUR Corporate Bonds P Cap

LU0222461195

EUR

23/06/2005

3

Medium

This compartment invests all its total assets/total wealth in the EUR Corporate Bonds compartment of the Luxembourg SICAV Pictet Funds (LUX). This compartment invests at least two-thirds of its assets without geographic limitation in a diversified portfolio of bonds and convertible bonds issued by private companies and money market instruments, within the limits allowed by the investment restrictions. Investments in convertible bonds will not exceed 30% of the Compartment’s net assets.

Pictet Funds (Europe) S.A.

Pictet II EUR Government Bond P Cap

LU0241423960

EUR

12/05/2006

3

Medium

This compartment invests mainly in a diversified portfolio of bonds and other debt securities denominated in euros, issued or guaranteed by national or local governments, or by supranational organisations, within the limits allowed by the investment restrictions. In addition, the compartment may invest up to 10% of its net assets in UCIs.

Pictet Funds (Europe) S.A.

Pictet II EUR Inflation Lk Bd P Cap

LU0241424349

EUR

31/08/2006

2

Medium

This compartment invests all its assets in the EUR Inflation Linked Bonds compartment of the Luxembourg SICAV Pictet Funds (LUX). This compartment invests at least two-thirds of its assets in a diversified portfolio of inflation-linked bonds or by synthetically creating a bond protected against inflation using a nominal bond and an inflation swap, within the limits allowed by the investment restrictions. These investments may be made in all markets while seeking capital growth in the base currency.

Pictet Funds (Europe) S.A.

Pictet Absol Rt Gl Divers P EUR Cap

LU0247079469

EUR

27/03/2006

2

Medium

The fund aims to provide investors with an absolute positive return primarily by investing in a broad and extremely diversified selection of assets. All the various strategies aim to provide investors with a return greater than its benchmark index, EONIA (the “Euro Over Night Index Average” which reflects the average weighted rate of interbank investments from one day to the next in the eurozone).

Pictet Funds (Europe) S.A.

Pictet Japanese Eq Selec HP EUR Cap

LU0248317363

EUR

24/03/2006

1

High

This fund aims to enable investors to benefit from growth in the Japanese equity market.  The fund will invest a minimum of two-thirds of its total assets or wealth in equities issued by companies that are headquartered in Japan or conduct the majority of their activity in Japan.

Pictet Funds (Europe) S.A.

PF (LUX) Asian Local Ccy Debt P Cap

LU0255797556

USD

26/06/2006

3

Medium

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to Asian local emerging debt.

Pictet Funds (Europe) S.A.

Pictet Asian Local Ccy Debt R Cap

LU0255797713

USD

26/06/2006

3

Medium

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to Asian local emerging debt.

Pictet Funds (Europe) S.A.

Pictet Emerg Loc Ccy Debt P USD Cap

LU0255798109

USD

26/06/2006

4

Medium

The objective of this compartment is to seek income and capital growth by investing at least two thirds of its net assets in a diversified portfolio of bonds and other debt securities linked to emerging local debt.   Emerging countries are defined as those considered, at the time of investing, as industrially developing countries by the International Monetary Fund, the World Bank, the International Finance Corporation (IFC) or one of the leading investment banks. The compartment may also invest in warrants on transferable securities and indexes and subscription warrants and may use currency transactions for a purpose other than hedging.

Pictet Funds (Europe) S.A.

PF(Lux) Emerg Loc Curr Debt P Dis

LU0255798281

USD

26/06/2006

4

Medium

The objective of this compartment is to seek income and capital growth by investing at least two thirds of its net assets in a diversified portfolio of bonds and other debt securities linked to emerging local debt.   Emerging countries are defined as those considered, at the time of investing, as industrially developing countries by the International Monetary Fund, the World Bank, the International Finance Corporation (IFC) or one of the leading investment banks. The compartment may also invest in warrants on transferable securities and indexes and subscription warrants and may use currency transactions for a purpose other than hedging.

Pictet Funds (Europe) S.A.

Pictet II Asian Loc Curr Debt P Cap

LU0255814823

USD

26/06/2006

3

Medium

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to Asian local emerging debt. The Compartment may also invest in warrants on transferable securities and indexes and subscription warrants and may use currency transactions for a purpose other than hedging.

Pictet Funds (Europe) S.A.

Pictet Sicav II Emerg Loc Cur R Cap

LU0255815713

USD

26/06/2006

3

Medium

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to local emerging debt. The Compartment may also invest in warrants on transferable securities and indexes and subscription warrants and may use currency transactions for a purpose other than hedging.

Pictet Funds (Europe) S.A.

Pictet Biotech P EUR Cap

LU0255977455

EUR

14/06/2006

2

Medium

This compartment aims to achieve growth by investing in equities or similar securities issued by biopharmaceutical companies that are at the forefront of innovation in the medical sector. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in this sector. To capitalise on particularly innovative projects in the drugs industry, the Biotech Compartment may invest up to 10% of its net assets in Private Equity and/or unlisted securities.

Pictet Funds (Europe) S.A.

Pictet Greater China P EUR Cap

LU0255978347

EUR

14/06/2006

3

Medium

This Compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies that are headquartered in and/or conduct their main activity in Hong Kong, China or Taiwan. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet Generics P EUR Cap

LU0255978776

EUR

14/06/2006

4

High

The fund's objective is to achieve capital growth by investing at least two-thirds of its total assets or wealth in equities or similar securities issued by companies that are active in the field of generic drugs.

Pictet Funds (Europe) S.A.

Pictet Generics R Eur Cap

LU0255978859

EUR

14/06/2006

3

High

The fund's objective is to achieve capital growth by investing at least two-thirds of its total assets or wealth in equities or similar securities issued by companies that are active in the field of generic drugs.

Pictet Funds (Europe) S.A.

Pictet Water P USD Cap

LU0255980327

USD

26/05/2006

4

Low

The fund aims to invest in equities issued by companies operating in the water and air sector worldwide. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in the water sector. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet US Eq Growth Select P US Cap

LU0256840108

USD

29/06/2006

3

Medium

The fund aims to enable investors to benefit from growth in the American equity market.   The fund will invest at least two-thirds of its total assets or wealth in equities issued by companies that are headquartered in or conduct their main activity in the United States.

Pictet Funds (Europe) S.A.

Pictet Security P USD Cap

LU0256846139

USD

31/10/2006

5

Low

The fund applies a capital growth strategy by investing primarily in shares or similar securities issued by companies that contribute to providing integrity, health, and freedom, whether it be individual, corporate or political. The Compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in this sector.

Pictet Funds (Europe) S.A.

Pictet LUX Security P Dis

LU0256846303

USD

31/10/2006

5

Low

The fund applies a capital growth strategy by investing primarily in shares or similar securities issued by companies that contribute to providing integrity, health, and freedom, whether it be individual, corporate or political. The Compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in this sector.

Pictet Funds (Europe) S.A.

Pictet Emerging Markets P EUR Cap

LU0257359355

EUR

09/06/2006

1

Medium

This compartment invests at least two-thirds of its total assets or wealth in securities issued by companies that are headquartered in and/or have their main activity in emerging countries. Emerging countries are defined as those considered, at the time of investing, as industrially developing countries by the International Monetary Fund, the World Bank, the International Finance Corporation (IFC) or one of the leading investment banks. This compartment will also invest in securities traded on the Russian “RTS Stock Exchange”.

Pictet Funds (Europe) S.A.

Pictet Funds (Lux) Sec P EUR Cap

LU0270904781

EUR

31/10/2006

5

Low

The fund applies a capital growth strategy by investing primarily in shares or similar securities issued by companies that contribute to providing integrity, health, and freedom, whether it be individual, corporate or political. The Compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in this sector.

Pictet Funds (Europe) S.A.

Pictet Clean Energy P USD Cap

LU0280430660

USD

14/05/2007

4

Medium

This compartment applies a capital growth strategy by investing at least two-thirds of its total assets or wealth in shares issued by companies that contribute to the reduction of carbon emissions (by encouraging the production and use of clean energy, for example). The investment universe is not limited to a specific geographic region.

Pictet Funds (Europe) S.A.

PF (Lux) Clean Energy P Dis

LU0280430744

USD

14/05/2007

4

Medium

This compartment applies a capital growth strategy by investing at least two-thirds of its total assets or wealth in shares issued by companies that contribute to the reduction of carbon emissions (by encouraging the production and use of clean energy, for example). The investment universe is not limited to a specific geographic region.

Pictet Funds (Europe) S.A.

Pictet Clean Energy P EUR Cap

LU0280435388

EUR

14/05/2007

4

Medium

This compartment applies a capital growth strategy by investing at least two-thirds of its total assets or wealth in shares issued by companies that contribute to the reduction of carbon emissions (by encouraging the production and use of clean energy, for example). The investment universe is not limited to a specific geographic region.

Pictet Funds (Europe) S.A.

Pictet Clean Energy R EUR Cap

LU0280435461

EUR

14/05/2007

4

Medium

This compartment applies a capital growth strategy by investing at least two-thirds of its total assets or wealth in shares issued by companies that contribute to the reduction of carbon emissions (by encouraging the production and use of clean energy, for example). The investment universe is not limited to a specific geographic region.

Pictet Funds (Europe) S.A.

Pictet Emerg Loc Cur Debt P EUR Cap

LU0280437673

EUR

23/01/2007

4

Medium

The objective of this compartment is to seek income and capital growth by investing at least two thirds of its net assets in a diversified portfolio of bonds and other debt securities linked to emerging local debt.   Emerging countries are defined as those considered, at the time of investing, as industrially developing countries by the International Monetary Fund, the World Bank, the International Finance Corporation (IFC) or one of the leading investment banks. The compartment may also invest in warrants on transferable securities and indexes and subscription warrants and may use currency transactions for a purpose other than hedging.

Pictet Funds (Europe) S.A.

Pictet Asian Local Ccy Debt R Cap

LU0280438564

EUR

24/01/2007

2

Medium

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to Asian local emerging debt.

Pictet Funds (Europe) S.A.

Pictet II Emer Loc Cur Debt P Cap

LU0284693578

EUR

12/02/2007

4

Medium

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets or wealth in a diversified portfolio of bonds and other debt securities linked to local emerging debt. The Compartment may also invest in warrants on transferable securities and indexes and subscription warrants and may use currency transactions for a purpose other than hedging.

Pictet Funds (Europe) S.A.

Pictet Russian Equities P USD Cap

LU0338482267

USD

11/01/2008

3

High

The compartment will invest a minimum of twothirds of its total assets or wealth in equities or any other kind of “equity”-type security issued by companies that are headquartered in Russia or that conduct the majority of their activity in Russia. These other “equity”-type securities may be American depositary receipts (ADRs), European depositary receipts (EDRs) and Global depositary receipts (GDRs), whose underlying assets are issued by companies domiciled in Russia then traded on regulated markets outside these countries, mainly in the US and in Europe. This compartment will hold a diversified portfolio, generally composed of securities in listed companies. These securities may be ordinary or preferred shares, convertible bonds and, to a lesser extent, warrants and options.

Pictet Funds (Europe) S.A.

PF (Lux) Russian Equities R Cap

LU0338482770

USD

11/01/2008

2

High

The compartment will invest a minimum of twothirds of its total assets or wealth in equities or any other kind of “equity”-type security issued by companies that are headquartered in Russia or that conduct the majority of their activity in Russia. These other “equity”-type securities may be American depositary receipts (ADRs), European depositary receipts (EDRs) and Global depositary receipts (GDRs), whose underlying assets are issued by companies domiciled in Russia then traded on regulated markets outside these countries, mainly in the US and in Europe. This compartment will hold a diversified portfolio, generally composed of securities in listed companies. These securities may be ordinary or preferred shares, convertible bonds and, to a lesser extent, warrants and options.

Pictet Funds (Europe) S.A.

Pictet Russian Equities P EUR Cap

LU0338483075

EUR

11/01/2008

3

High

The compartment will invest a minimum of twothirds of its total assets or wealth in equities or any other kind of “equity”-type security issued by companies that are headquartered in Russia or that conduct the majority of their activity in Russia. These other “equity”-type securities may be American depositary receipts (ADRs), European depositary receipts (EDRs) and Global depositary receipts (GDRs), whose underlying assets are issued by companies domiciled in Russia then traded on regulated markets outside these countries, mainly in the US and in Europe. This compartment will hold a diversified portfolio, generally composed of securities in listed companies. These securities may be ordinary or preferred shares, convertible bonds and, to a lesser extent, warrants and options.

Pictet Funds (Europe) S.A.

Pictet Russian Equities R EUR Cap

LU0338483158

EUR

11/01/2008

2

High

The compartment will invest a minimum of twothirds of its total assets or wealth in equities or any other kind of “equity”-type security issued by companies that are headquartered in Russia or that conduct the majority of their activity in Russia. These other “equity”-type securities may be American depositary receipts (ADRs), European depositary receipts (EDRs) and Global depositary receipts (GDRs), whose underlying assets are issued by companies domiciled in Russia then traded on regulated markets outside these countries, mainly in the US and in Europe. This compartment will hold a diversified portfolio, generally composed of securities in listed companies. These securities may be ordinary or preferred shares, convertible bonds and, to a lesser extent, warrants and options.

Pictet Funds (Europe) S.A.

Pictet Russian Equities P GBP Dis

LU0338483232

GBP

11/01/2008

3

High

The compartment will invest a minimum of twothirds of its total assets or wealth in equities or any other kind of “equity”-type security issued by companies that are headquartered in Russia or that conduct the majority of their activity in Russia. These other “equity”-type securities may be American depositary receipts (ADRs), European depositary receipts (EDRs) and Global depositary receipts (GDRs), whose underlying assets are issued by companies domiciled in Russia then traded on regulated markets outside these countries, mainly in the US and in Europe. This compartment will hold a diversified portfolio, generally composed of securities in listed companies. These securities may be ordinary or preferred shares, convertible bonds and, to a lesser extent, warrants and options.

Pictet Funds (Europe) S.A.

Pictet Funds (LUX) Timber P USD Cap

LU0340557775

USD

29/09/2008

5

Low

The fund applies a strategy for capital growth by investing at least two-thirds of its total assets / wealth in shares or any other securities related to shares issued by companies active in the financing, planting, and management of forests and wooded areas and/or in the processing, production and distribution of wood for construction and other services and products derived from wood contained in the silvi culture value chain.

Pictet Funds (Europe) S.A.

Pictet Funds (LUX) Timber P EUR Cap

LU0340559557

EUR

29/09/2008

5

Low

The fund applies a strategy for capital growth by investing at least two-thirds of its total assets / wealth in shares or any other securities related to shares issued by companies active in the financing, planting, and management of forests and wooded areas and/or in the processing, production and distribution of wood for construction and other services and products derived from wood contained in the silvi culture value chain.

Pictet Funds (Europe) S.A.

Pictet Timber P dy GBP Dis

LU0340560480

GBP

29/09/2008

5

Low

The fund applies a strategy for capital growth by investing at least two-thirds of its total assets / wealth in shares or any other securities related to shares issued by companies active in the financing, planting, and management of forests and wooded areas and/or in the processing, production and distribution of wood for construction and other services and products derived from wood contained in the silvi culture value chain.

Pictet Funds (Europe) S.A.

Pictet Water P DY GBP Dis

LU0366531837

GBP

03/06/2008

3

Medium

The fund aims to invest in equities issued by companies operating in the water and air sector worldwide. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in the water sector. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet Fds (Lux) Agriculture P Cap

LU0366534344

EUR

28/05/2009

2

Medium

The fund applies a strategy for capital growth by investing primarily in shares issued by companies contributing to and/or profiting from the value chain of the agricultural sector. The Compartment’s investment universe is not limited to a specific geographic region.

Pictet Funds (Europe) S.A.

Pictet Convertible Bonds P Cap

LU0366535077

EUR

29/01/2010

NULL

NULL

The objective of the Compartment is to seek capital growth in absolute terms by investing primarily in a diversified portfolio of convertible bonds as well as in synthetic convertible transferable securities and convertible preferred shares.

Pictet Funds (Europe) S.A.

Pictet Sovereign STM Mkt P EUR Cap

LU0366536711

EUR

16/06/2008

2

Medium

The investment objective of this compartment is to offer investors the opportunity to invest in a vehicle that preserves capital and stability of value while obtaining a return in line with money market rates, having a high level of liquidity and observing a policy of risk spreading. The Compartment principally invests its assets in money market instruments and other debt securities with the minimum rating criterion equivalent to “AAA”. The average weighted maturity of the portfolio cannot exceed 60 days and the average weighted lifetime cannot exceed 120 days. The compartment’s investment timeframe will be primarily short-term.

Pictet Funds (Europe) S.A.

Pictet PS II So Short Term MM P Cap

LU0368848197

USD

17/06/2008

3

Medium

The investment objective of the Compartment is to offer investors the opportunity to invest in a vehicle that preserves capital and stability of value while obtaining an appropriate return with a high level of liquidity and observes a policy of risk spreading. In addition, the Compartment may invest up to 10% of its net assets in UCIs. In order to reduce its exposure to market risk, the Compartment may temporarily hold up to 100% of its net assets in liquid instruments and/or money market instruments with the minimum rating criterion equivalent to “AAA”, or monetary funds up to 10%.

Pictet Funds (Europe) S.A.

Pictet PS II So Short Term MM R Cap

LU0368848601

USD

16/06/2008

3

Medium

The investment objective of the Compartment is to offer investors the opportunity to invest in a vehicle that preserves capital and stability of value while obtaining an appropriate return with a high level of liquidity and observes a policy of risk spreading. In addition, the Compartment may invest up to 10% of its net assets in UCIs. In order to reduce its exposure to market risk, the Compartment may temporarily hold up to 100% of its net assets in liquid instruments and/or money market instruments with the minimum rating criterion equivalent to “AAA”, or monetary funds up to 10%.

Pictet Funds (Europe) S.A.

PS II Global Emerging Cur P USD Cap

LU0368848940

USD

17/06/2008

NULL

NULL

The Compartment’s objective is to seek revenue and capital growth by investing a minimum of two-thirds of its total assets/wealth in a diversified portfolio of currencies and of any kind of derivative instruments (traded on a regulated market or over the counter) on currencies of emerging countries. These derivative techniques and instruments will be used for efficient Management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

Pictet Timber HP EUR Cap

LU0372507243

EUR

29/09/2008

3

High

The fund applies a strategy for capital growth by investing at least two-thirds of its total assets / wealth in shares or any other securities related to shares issued by companies active in the financing, planting, and management of forests and wooded areas and/or in the processing, production and distribution of wood for construction and other services and products derived from wood contained in the silvi culture value chain.

Pictet Funds (Europe) S.A.

Pictet Water HP USD Cap

LU0385405567

USD

15/10/2008

3

Low

The fund aims to invest in equities issued by companies operating in the water and air sector worldwide. The compartment will invest at least two-thirds of its total assets or wealth in equities issued by companies operating in the water sector. The compartment may use derivative techniques and instruments for efficient management, within the limits specified in the investment restrictions.

Pictet Funds (Europe) S.A.

PF (L) Global Megatrend Sel P Cap

LU0386859887

USD

31/10/2008

4

Medium

The Compartment will apply a strategy of capital growth, investing at least two-thirds of its total assets / total wealth in shares, or in any other security linked to shares, issued by companies throughout the world.

Pictet Funds (Europe) S.A.

Pictet Global Megatrend P EUR CAP

LU0386882277

EUR

31/10/2008

4

Medium

The Compartment will apply a strategy of capital growth, investing at least two-thirds of its total assets / total wealth in shares, or in any other security linked to shares, issued by companies throughout the world.

Pictet Funds (Europe) S.A.

Pictet Global Megatrend Selec P Dis

LU0386885296

EUR

31/10/2008

4

Medium

The Compartment will apply a strategy of capital growth, investing at least two-thirds of its total assets / total wealth in shares, or in any other security linked to shares, issued by companies throughout the world.

Pictet Funds (Europe) S.A.

PF (L) Abs Ret Gl Divers HP CHF Cap

LU0407040863

CHF

03/02/2009

NULL

NULL

The fund aims to provide investors with an absolute positive return primarily by investing in a broad and extremely diversified selection of assets. All the various strategies aim to provide investors with a return greater than its benchmark index, EONIA (the “Euro Over Night Index Average” which reflects the average weighted rate of interbank investments from one day to the next in the eurozone).

Pictet Funds (Europe) S.A.

Pictet US Equity Val Sel P USD Cap

LU0407233401

USD

29/06/2009

2

High

The Compartment aims to offer investors the opportunity to benefit from the potential growth in the US equity market, through shares that the manager considers as undervalued.

Pictet Funds (Europe) S.A.

Pictet Mid East North Afric P Cap

LU0413363663

EUR

26/07/2009

2

Medium

This Compartment aims to achieve long-term capital growth by investing primarily in transferable securities issued by companies that have their registered headquarters and/or that conduct the majority of their business in the Middle East and North Africa.

Pictet Funds (Europe) S.A.

Pictet Total Ret Mandarin P USD Cap

LU0496443531

USD

01/10/2010

NULL

NULL

The compartment follows an equity long/short investment strategy. The objective of the compartment is to achieve long-term capital growth in absolute terms with a strong focus on capital preservation. Traditional long positions are coupled with (synthetic) long and short positions, which will be achieved through the use of financial derivative instruments (such as total return swaps). The compartment will take exposure principally to companies, which are domiciled, headquartered or exercise the predominant part of their economic activity in Asia, with a focus mainly in China, Taiwan and Hong Kong. For this purpose, the compartment will mainly invest in equities, equity related securities (such as but not limited to ordinary or preferred shares) and financial derivative instruments.

Pictet Funds (Europe) S.A.

Pictet Emerg Mkt High Div P EUR Cap

LU0725972227

EUR

07/06/2012

NULL

NULL

This compartment will invest mainly in shares and similar securities of companies whose headquarters are located in and/or that conduct their main activity in emerging countries and for which it is expected that dividends are higher or greater than those of their reference market.

Pictet Funds SA, Geneva

Pictet PPMF Physical Gold P Dis

CH0104850497

USD

30/09/2009

NULL

NULL

The subfund's investment objective is to offer investors an alternative to investing directly in physical gold, with the aim of tracking the changing price of gold after deducting the costs and commissions associated with the subfund. The subfund invests, after deduction of the liquid assets, at least 85% of its total assets in: - Physical gold in the form of standard bars weighing around 12.5 kg of a purity of not less than 995 thousandths. The market price is determined with due regard to the purity of the bars and ingots; and - Physical gold in the form of ingots of different exact weights of a purity of not less than 995 thousandths. These ingots may be of the following exact weights only: 1 kg, ½ kg, ¼kg, 200g, 100g, 50g, 20g, 10g, 5g, 100 ounces, 50 ounces, 25 ounces, 10 ounces, 5 ounces and 1 ounce.

Pictet Funds SA, Geneva

Pictet PMF (CH) Physical Gold P Dis

CH0104851016

CHF

30/09/2009

NULL

NULL

The subfund's investment objective is to offer investors an alternative to investing directly in physical gold, with the aim of tracking the changing price of gold after deducting the costs and commissions associated with the subfund. The subfund invests, after deduction of the liquid assets, at least 85% of its total assets in: - Physical gold in the form of standard bars weighing around 12.5 kg of a purity of not less than 995 thousandths. The market price is determined with due regard to the purity of the bars and ingots; and - Physical gold in the form of ingots of different exact weights of a purity of not less than 995 thousandths. These ingots may be of the following exact weights only: 1 kg, ½ kg, ¼kg, 200g, 100g, 50g, 20g, 10g, 5g, 100 ounces, 50 ounces, 25 ounces, 10 ounces, 5 ounces and 1 ounce.

Pictet Funds SA, Geneva

Pictet PPMF Physical Gold R USD Dis

CH0104851461

USD

30/09/2009

NULL

NULL

The subfund's investment objective is to offer investors an alternative to investing directly in physical gold, with the aim of tracking the changing price of gold after deducting the costs and commissions associated with the subfund. The subfund invests, after deduction of the liquid assets, at least 85% of its total assets in: - Physical gold in the form of standard bars weighing around 12.5 kg of a purity of not less than 995 thousandths. The market price is determined with due regard to the purity of the bars and ingots; and - Physical gold in the form of ingots of different exact weights of a purity of not less than 995 thousandths. These ingots may be of the following exact weights only: 1 kg, ½ kg, ¼kg, 200g, 100g, 50g, 20g, 10g, 5g, 100 ounces, 50 ounces, 25 ounces, 10 ounces, 5 ounces and 1 ounce.

Pictet Funds SA, Geneva

Pictet PPMF Physical Gold R CHF Dis

CH0104851735

CHF

30/09/2009

NULL

NULL

The subfund's investment objective is to offer investors an alternative to investing directly in physical gold, with the aim of tracking the changing price of gold after deducting the costs and commissions associated with the subfund. The subfund invests, after deduction of the liquid assets, at least 85% of its total assets in: - Physical gold in the form of standard bars weighing around 12.5 kg of a purity of not less than 995 thousandths. The market price is determined with due regard to the purity of the bars and ingots; and - Physical gold in the form of ingots of different exact weights of a purity of not less than 995 thousandths. These ingots may be of the following exact weights only: 1 kg, ½ kg, ¼kg, 200g, 100g, 50g, 20g, 10g, 5g, 100 ounces, 50 ounces, 25 ounces, 10 ounces, 5 ounces and 1 ounce.