What do HR and HP indicate in Pictet Biotech fund identifiers?
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😎 PICTET BIOTECH “HR” (EURHDG) ACC (ISIN LU0190162189)
PICTET BIOTECH “HP” (EURHDG) ACC (ISIN LU0190161025)
Do you know what HR and HP indicates in these two identifiers of two highly related finds?
🤖 Yes, in the context of mutual funds like the PICTET BIOTECH “HR” (EURHDG) ACC and “HP” (EURHDG) ACC, the letters “HR” and “HP” typically denote different share classes offered by the fund. Share classes allow a fund to offer the same underlying investments to different types of investors, often varying by fee structures, minimum investment requirements, distribution channels, or currency hedging strategies. Here’s what they generally stand for:
– **”HR”**: This often stands for “Hedged Retail” or a variation thereof, indicating a share class that is currency-hedged to mitigate the impact of foreign exchange fluctuations on returns, and targeted at retail investors. These shares might have a lower minimum investment requirement compared to classes aimed at institutional investors.
– **”HP”**: This could stand for “Hedged Professional” or “Hedged Institutional”, suggesting a currency-hedged share class as well, but aimed at professional or institutional investors. This class might offer lower expense ratios due to larger minimum investment amounts and might have different rights or benefits compared to retail classes.
It’s important to note that the exact meaning of “HR” and “HP” can vary by fund and should be verified by looking at the fund’s prospectus or fact sheets. These documents provide detailed information about each share class, including fees, investment minimums, and eligibility criteria.
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