Pictet Strategic Income Fund Assets Triple to $5.1 Billion

The Hong Kong-domiciled Pictet Strategic Income Fund tripled its assets under management to $5.1 billion in 2026, increasing from $1.6 billion at the start of the year. Pictet Asset Management, the Swiss firm managing the fund, attributed this growth to mainland Chinese retail investors seeking overseas assets, specifically those providing exposure to AI supply chains and alternatives.

Approximately 60% of the fund's assets originate from mainland China through the Mutual Recognition of Funds scheme. This surge followed a May crackdown by the Government of China on unlicensed offshore brokerage accounts, which redirected investors toward legal cross-border investment channels. The fund returned 17% in the first eight months of the year, holding a portfolio of U.S. Treasuries, gold, and technology companies including Nvidia, Alphabet, and Amazon.

To further capture this demand, Pictet Asset Management intends to apply for two additional funds under the Mutual Recognition of Funds scheme. The firm noted that the global growth feature of the AI sector has performed well since the launch of ChatGPT, while domestic deposit yields have declined.