Pictet Funds, the wholly-owned fund distribution company of the Swiss private bank Pictet & Cie, has been awarded UK distributor status for all its Pictet Funds Lux Sicav range. This tax status means Pictet can now offer UK investors better tax treatment and comes after the recent announcement that it has issued sterling-share classes for a selection of its Luxembourg-domiciled range of funds. Paul Gaston, head of UK Sales, Pictet Funds, said: “As well as having access to the unique investment expertise of the Pictet Group, UK investors can now benefit from a better tax deal. “This development reflects Pictet Funds’ growth and I am looking forward to developing the business further in the New Year and in particular making additions to our UK sales team.”