Pictet investment manager Julien Bittel has left the company to launch his own global macro hedge fund at Stouff Capital, as first reported by Bloomberg.
The article adds that he was a manager on strategies including the Pictet Quattro and Pictet LPP Multi Asset Flexible funds.
The fund will target global equities, credit markets and crypto assets, and is aiming to raise CHF 100m in its first two years of operation.
‘Global macro done correctly is an all-weather strategy – benefiting greatly during periods of economic strength but protecting the portfolio during periods of economic weakness,’ Bittel said.
Stouff Capital was founded by Julien Stouff, who was global head of Pictet Trading Strategy from 2013 until 2018. He had worked at Pictet since 2004.
The company already runs the Urizen Fund. Its class A-EUR has returned 22.7% from inception at the end of 2018 until the end of August. The firm previously announced that it has a distribution deal with Reyl Group.
The company also employs Gregory Chevalley and Hamadoun Sidibe. Chevally is quant head, and was previously head of quant at Pictet Trading Strategy.