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Pictet Wealth Management is holding fire on evergreen and open-ended private markets funds as it remains cynical about these new structures.
‘Evergreen funds only have perceived liquidity. There’ll be an issue when people rush for their money back,’ César Pérez Ruiz, head of investments and CIO at Pictet Wealth Management, told Citywire. ‘It’s either liquid or it’s not.’
Although Ruiz (pictured) didn’t completely rule out investing in these fund structures in the future, the private bank hadn’t made a firm decision yet.
