Pictet Fund Plows 30% of Cash Into AI Stocks on Risk Revival

A $3.5 billion multi-asset fund at Pictet Asset Management has sharply raised its equity exposure, shifting as much as 30% of its cash-equivalent holdings into artificial-intelligence heavyweights across Asia and the US.

The Hong Kong-managed Pictet Strategic Income Fund nearly doubled its stock allocation to about 65% within weeks after US-Iran ceasefire talks in early April, targeting undervalued and infrastructure-linked firms tied to AI. The conviction helped the fund beat nearly 90% of peers over the past month and delivered a roughly 43% return over the past year.