PICTET FUNDS
N-18F1, 2000-06-28
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                                  FORM N-18F-1

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549







                 NOTIFICATION OF ELECTION PURSUANT TO RULE 18F-1
                    UNDER THE INVESTMENT COMPANY ACT OF 1940









                                  PICTET FUNDS
                            Exact Name of Registrant



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                            NOTIFICATION OF ELECTION


         The undersigned  registered open-end investment company hereby notifies
the Securities and Exchange Commission that it elects to commit itself to pay in
cash all  redemptions by a shareholder of record as provided by Rule 18f-1 under
the  Investment  Company Act of 1940.  It is  understood  that this  election is
irrevocable  while such Rule is in effect  unless the  Commission  by order upon
application permits the withdrawal of this Notification of Election.



                                    SIGNATURE

     Pursuant to the requirements of Rule 18f-1 under the Investment Company Act
of 1940,  the  Registrant  has caused this  notification  of election to be duly
executed  on  its  behalf  in  the  City  of  Boston  and  the  Commonwealth  of
Massachusetts on the 28th day of June, 2000.

                                                             PICTET FUNDS


                                                     By:    /s/Gail A. Hanson
                                                              Gail A. Hanson
                                                              Secretary

Attest:

/s/Andrew M. Goldberg
Andrew M. Goldberg
Assistant Secretary



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