Pictet AI Enhanced World Equity ETF Adds GBP Share Class on London Stock Exchange

Pictet Asset Management has admitted a new GBP-denominated share class of the Pictet AI Enhanced World Equity UCITS ETF (ISIN IE000JBZXFH0) to trading on the London Stock Exchange, under the ticker PQWP.

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Article created by the editorial staff of ETFWorld.co.uk

David Wright, Head of Quantitative Investments at Pictet Asset Management

Ticker PQWP joins the London market on 31 July 2026, extending sterling access to Pictet’s AI-driven active ETF range

The listing gives London-based, sterling-denominated investors direct on-exchange access to the fund, which uses a proprietary artificial intelligence model to run active global equity selection while tracking the MSCI World Index closely. The total expense ratio is 0.25%.

A new listing line for an already-established fund

The GBP listing is not the launch of a new fund. Pictet AI Enhanced World Equity UCITS ETF is part of a range of four AI Enhanced active equity ETFs — covering global, US, European and global ex-US equities — that Pictet Asset Management brought to the European ETF market earlier in 2026. The four Irish-domiciled UCITS sub-funds began trading on Deutsche Börse Xetra and Euronext in June 2026, with total expense ratios set at 0.25% across the range.

The range made its debut on the London Stock Exchange on 2 July 2026, when eight share classes across the four regional strategies were admitted to trading, split between accumulating (“Acc”) and distributing (“Dist”) versions. At that point the World Equity strategy traded on LSE in a US-dollar-denominated line (ticker PQWD-GB). The new PQWP line adds a sterling quotation of the same underlying share class, under the same ISIN, widening currency access for UK investors without requiring a separate cross-currency conversion at the point of trade.

Waystone, the Dublin-based firm that provides capital markets services for the range, supported Pictet Asset Management on the original launch and has stated that further listings beyond Xetra and Euronext, including London and the SIX Swiss Exchange, were planned to follow the initial rollout.

Investment approach: AI-driven, benchmark-aware stock selection

Pictet AI Enhanced World Equity UCITS ETF is an actively managed fund. It does not aim to replicate the MSCI World Index, its reference benchmark, and is not constrained by the index’s composition. Instead, it invests in equity and equity-related securities of companies of any market capitalisation drawn from developed markets as defined by the index provider, with no concentration in any specific industry or sector. The fund may also hold securities outside the index where the investment manager judges these offer a comparable risk and return profile with a better opportunity, and it may use index futures for liquidity and portfolio management and warrants for investment purposes. The fund’s reference currency is USD.

According to Pictet, the defining feature of the range is that artificial intelligence drives the entire stock-selection process, rather than being layered onto an existing quantitative model. The manager says the approach targets stock-specific, factor-neutral alpha intended to hold up across different market regimes, with return drivers designed to be identifiable through transparent attribution. The AI model was developed in-house by Pictet Asset Management’s Quantitative Investments team, led by David Wright, Head of Quantitative Investments, who commented that for many investors, improving returns is less about seeking exotic new sources of performance and more about “navigating the same investment universe and data more intelligently.”

Pictet has said the AI Enhanced range targets outperformance of its MSCI benchmarks of broadly 1% to 1.5% a year net of fees, with a maximum tracking error of around 2% and a beta close to 1.0 — meaning the fund’s returns are designed to move in line with the broader market rather than diverge sharply from it. Reported figures for the target outperformance range vary slightly between sources (some cite “around 1%”, others “1% to 1.5%”); this should be confirmed against Pictet’s own fund documentation before publication.

Track record reference and portfolio characteristics

Pictet has positioned the AI Enhanced range as an extension of its existing AI-driven quantitative capability. The strategy takes as its reference the Pictet-Quest AI-Driven Global Equities fund, a Luxembourg-domiciled UCITS vehicle launched in March 2024, which has raised more than USD 3 billion in assets since inception. To the end of May 2026, that fund had returned 50% in US dollar terms, against 45.9% for the MSCI World Index over the same period.

Separately, according to portfolio data reported as of 10 July 2026, Pictet AI Enhanced World Equity UCITS ETF held 302 constituents, roughly one third of the number in its MSCI World benchmark, with an average active share for the AI Enhanced range put at around 50%. The same reporting noted a geographic overweight versus the benchmark in Italy, the Netherlands, Hong Kong and Singapore, and an underweight in Australia, the UK, Switzerland and Canada, alongside a weekly portfolio rebalancing cycle. These figures come from a single source and reflect a specific snapshot date; they should be verified against Pictet’s own factsheet before publication, as portfolio composition changes with each rebalancing.

Issuer background

Pictet Asset Management is part of the Pictet Group, a Geneva-based partnership of managing partners active since 1805 in wealth management, asset management and alternative investments. As of 31 May 2026, Pictet Asset Management reported assets under management of approximately CHF 283 billion. The group operates eighteen business development centres worldwide, including in London and Milan.

Outlook

With the GBP line now admitted to trading, Pictet AI Enhanced World Equity UCITS ETF is accessible on the London Stock Exchange in both US dollar and sterling quotations, alongside its existing lines on Xetra and Euronext.

Source: ETFWorld.co.uk