[1] Source: Pictet Asset Management and Bloomberg as of 07.09.2018
[2] Tokyo Stock Exchange’s first section trading volume data as of 18.10.2019. Source: Tokyo Stock Exchange
[3] Source: Nikkei
[4] We aim to limit the range of beta to be between -0.2 and +0.2. vs Topix Index
[5] The initial universe includes companies listed on TOPIX, Nikkei, Tokyo Stock Exchange Mothers. Only the 500 or so stocks which either have market capitalisation of over USD1 billion or average daily trading volume of over USD10 million form our investable universe.
* For illustrative purposes only. The representative strategy performance is composed of actual gross returns for the Japanese Equities L/S segment within PTR-Diversified Alpha from 10.10.2016 to 30.09.2018 and actual gross returns for the PTR-Akari JPY fund from 01.10.2018, the first full month since the fund was launched, to present. During the period, the segregated segment followed the same investment approach as the PTR-Akari fund and was managed by the Akari investment team. The PTR-Diversified Alpha fund is a Luxembourg SICAV that invests primarily in market-neutral strategies managed by selected Pictet AM teams. These investment strategies have exposure to various financial assets (equities, bonds and other debt-related securities, financial derivatives) globally. Note: All performance data are shown in JPY, gross of fees and based on daily returns. Please note that a standalone vehicle will be subject to fees and expenses such as management, performance, administration, operational etc. that will result in lower net returns for your investment. Past performance is not a reliable guide to future performance. Performance data does not include the commissions and fees charged at the time of subscribing for or redeeming shares The value of investments and the income from them may fluctuate and investors may not get back the full amount invested. The strategy is unconstrained by a benchmark. TOPIX is a reference index, provided for comparison purposes only. This reference index does not influence the portfolio construction process and the securities included in this index may differ from the strategy’s investment universe. Source: Pictet Asset Management, as of 30.09.2019