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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CONSOLIDATED WATER
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
G23773107
(CUSIP Number)
12/31/2006
(Date of Event Which Requires Filing of this Statement)
Check appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
notes).
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE
NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL
NUMBER.
CUSIP No. G23773107 13G Page 1 of 1 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Pictet Asset Management SA("PAM SA")
The reporting person disclaim beneficial ownership of the shares
reported, which are owned of record and beneficially by three non-U.S.
investment funds, both managed by PAM SA.
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2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
Pictet Asset Management SA - Switzerland
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5 Sole Voting Power:
Pictet Asset Management SA: 830,900
-----------------------------------------------------------------
Number of 6 Shared Voting Power:
Shares
Beneficially Pictet Asset Management SA: None
Owned by -----------------------------------------------------------------
Each 7 Sole Dispositive Power:
Reporting
Person With Pictet Asset Management SA: 830,900
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8 Shared Dispositive Power:
Pictet Asset Management SA: None
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
Pictet Asset Management SA: 830,900
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[ ]
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11 Percent of Class Represented by Amount in Row (9)
Pictet Asset Management SA: 5.97%
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12 Type of Reporting Person:
Pictet Asset Management SA: IA
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Item 1.
(a) Name of Issuer: CONSOLIDATED WATER
(b) Address of Issuer's Principal Executive Offices:
TRAFALGAR PLACE
WEST BAY ROAD, PO BOX 114 GT
GRAND CAYMAN
B.W.I
Item 2
(a) Names of Person Filing:
Pictet Asset Management SA("PAM SA")
(b) Address of Principal Business Office or, if none, Residence:
Pictet Asset Management SA:
60 ROUTE DES ACACIAS
GENEVA 73
SWITZERLAND
CH-12 11
(c) Citizenship:
Pictet Asset Management SA: United Kingdom
(d) Title of Class Securities: COMMON STOCK
(e) CUSIP Number: G23773107
Item 3. If this statement is filed pursuant to Rule 13d-1 (b), or 13d-2 (b) or
(c), check whether the person is A
Not applicable.
Item 4. Ownership
The reporting persons disclaim beneficial ownership of the shares reported,
which are owned of record and beneficially by three non-U.S. investment funds,
both are managed by PAM SA.
(a) Amount Beneficially Owned:
Pictet Asset Management SA: 830,900
(b) Percent of Class:
Pictet Asset Management SA: 5.97%
(c) Number of shares as to which such person has:
Pictet Asset Management SA:
(i) sole power to vote or to direct the vote: 830,900
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of:
830,900
(iv) shared power to dispose or to direct the disposition of:
None
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
See answer to Item 2 (a)
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of the Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date : 9TH FEBRUARY 2007
/s/ David Cawthrow
----------------------------------------
David Cawthrow
Chief Compliance Officer
AGREEMENT OF REPORTING PERSONS
The undersigned herby agree that the foregoing Schedule 13G is filed on
behalf of the undersigned.
Pictet Asset Management SA
By: /s/ David Cawthrow
---------------------------------
David Cawthrow,
Chief Compliance Officer