Pictet Funds is set to launch its Environmental Megatrend Selection UCITS III fund, investing in a range of different sectors.

The euro-denominated environmental fund will invest in water, clean energy, timber and agriculture sectors, which the firm believes offer potential for long-term growth.

Laurent Ramsey, chief executive of Pictet Funds, said, 'This fund is supported by solid long term fundamentals with excellent growth perspectives.

'We've focused our expertise in this field to provide investors a diversified, structured and socially responsible exposure to environmental megatrends.'

There is no minimum investment and has a management fee of 1.6 per cent and total expense ratio of 2 per cent.