Pictet AM's CHF bonds investments specialists

Investment team

The investment team includes four investment managers: the team leader Ermira Marika, Olivier Hildbrand, Joël Hutter and Oliver Haubner. The investment strategy is defined within a team approach with a fact-based consensus style. Ermira Marika oversees the global strategy and the overall portfolio construction. The credit selection is split by sector and / or country among the investment managers.To ensure the constant supervision and monitoring of portfolios, each fund/mandate is under the responsibility of a lead manager with the back-up of another team member. In addition, the CHF Bonds team includes a senior trader, Matthias Gautschi, specialized in CHF bonds, as well as a product specialist, Kristi Tasellari Hug.

We are also supported by Pictet Asset Management’s broader investment capabilities. For credit research, given the international reach and the high number of both domestic and foreign issuers in our universe, we can rely on 14 credit analysts located in Geneva, London, Singapore and Hong Kong. This team is organized by sector and assesses the most important issuers in each sector, relying mainly on company-specific metrics. Regular reviews are organized on a daily and weekly basis to discuss corporate results and expected credit events. The analysts have extensive industry relationships and investment networks with investment banks and rating agencies. They help us rank companies based on risk-reward (fundamentals versus market price) and protect from “blow-up” situations. The ultimate investment decision is taken by investment managers. 

Macroeconomic research 

Four economic analysts support the investment team in the definition of the broader macroeconomic picture. Nikolay Markov participates in every CHF bonds team strategy meeting as he specializes in Swiss macroeconomics. However all four macro analysts intervene in the analysis of domestic and foreign factors relevant for interest rates strategies in our portfolios.

Risk management 

The investment team has a dedicated risk manager, Giang Hoang, who carries out risk controls and risk management of the portfolio activities on a daily basis and participates as well in our team strategy meetings.