SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

CONSOLIDATED WATER CO

(Name of Issuer)

COMMON STOCK

G23773107

12/31/2009

          Check appropriate box to designate the rule pursuant to which this Schedule is filed:

	o		Rule 13d-1(b)
	þ		Rule 13d-1(c)
	o		Rule 13d-1(d)

 

 

CUSIP No.		G23773107	13G	Page		1		of		1 Pages

Item 1.

	(a)		Name of Issuer: CONSOLIDATED WATER CO
	(b)		Address of Issuer’s Principal Executive Offices:

Regatta Office Park
West Bay Road, Po Box 1114
Grand Cayman, Ky1 1102
Cayman Islands

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-1211

(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: 1,364,566

(b)

Percent of Class:

Pictet Asset Management SA: 9.38%

(c)

Number of shares as to which such person has:

Pictet Asset Management SA:

(i)

sole power to vote or to direct the vote: None

(ii)

shared power to vote or to direct the vote: 1,364,566

(iii)

sole power to dispose or to direct the disposition of: None

(iv)

shared power to dispose or to direct the disposition of: 1,364,566

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.

AGREEMENT OF REPORTING PERSONS

     The undersigned herby agree that the foregoing Schedule 13G is filed on behalf of the undersigned.