PICTET FUNDS



September 2, 2003


U.S. Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC  20549

Re:      Pictet Funds (the "Trust")
         File Nos. 33-92712/811-9050
         Withdrawal of Registration Statement on Form N-1A
         Post-Effective Amendment No. 23 and No. 27
         ------------------------------------------

To the Staff of the Commission:

On behalf of the Trust,  I hereby  submit this  application  for  withdrawal  of
Post-Effective  Amendment  No. 23 under the  Securities  Act of 1933 (the "Act")
(Amendment No. 27 under the Investment  Company Act of 1940) to the Registration
Statement on Form N-1A, together with all exhibits (the "Amendment") pursuant to
Rule 477(a) of the Act, filed via EDGAR on Form N-1A on July 3, 2003.

As discussed with Mr. Ernest C'DeBaca of the Commission,  please be advised that
the Trust is requesting  that this  Amendment be withdrawn  because the Trust no
longer seeks to effect  changes to the sales  structure for Retail Class shares.
The  Amendment  was to become  effective on  September 3, 2003  pursuant to Rule
485(a) under the Act. The Trust respectfully  requests that the Commission issue
an order with respect to this application for withdrawal.

Pursuant  to the  requirements  of Rule 478 of the  Act,  this  application  for
withdrawal  of the  Amendment  has been signed by the  President of the Trust on
this 2nd day of September, 2003.

Please contact  Christine  Pierangeli at 610-382-8733 with any questions you may
have concerning this application.

Sincerely,
/s/ Jean G. Pilloud
President


cc:   Ernest C'DeBaca (U.S. Securities and Exchange Commission)
      Joseph P. Barri (Hale and Dorr)
      Timothy F. Silva (Hale and Dorr)