Oslo-based Pareto Asset Management has selected Pictet Asset Services to provide custody, management company and fund administration services for its Luxembourg-domiciled UCITS umbrella fund.

The €3.2 billion Pareto SICAV comprises four sub-funds and is registered for sale in Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, the United Kingdom, Iceland, Italy (professional investors only), Netherlands, Norway and Sweden.

“We are pleased to announce our partnership with Pictet, the culmination of a selection process in which Pictet stood out for its service quality, added Eric von Koss Torkildsen, CEO of Pareto Asset Management. “We are confident that this partnership will create a robust foundation for sustainable success and long-term value creation for our clients.”