Swiss asset manager Pictet drums up support for US$4.3b security fund from Asian investors
The Swiss asset manager is betting a growing market for security solutions as the explosive growth in internet of things constantly sparks new threats
Innovation in computing technology is fuelling a race towards automation which, some asset managers such as Pictet Asset Management, believe has also opened up opportunities for investors to profit from the growing market of security.
The so-called internet of things (IoT), defined by Gartner as a network of physical objects that contain embedded technology to communicate or interact with their internal states or external environment, has also brought about new security concerns.
By 2020, the number of connected devices is expected to triple to 30 billion from 10 billion in 2014, according to IBM.
Yves Kramer, senior investment manager of thematic equities funds team at Pictet, said he is hopeful of drawing more investors’ interest from Asia into its US$4.3 billion security fund.
“With the number of connected devices tripling, IoT constantly sparks new threats at a pace that isn’t slowing,” he said, adding that for Asia-Pacific, the five-year compound annual growth rate of the market for security products and solutions is estimated to reach about 10 per cent by 2021.