Saturday, 27 December 2014
Last updated 3 days ago
Mar 29 2010 | 2:14pm ET
Gottex Fund Management’s flagship market-neutral and directional strategies lost more than US$1 billion. But the firm’s new managed accounts program helped fill part of that gap, raising US$500 million in just 10 months.
The Swiss fund of hedge funds shop saw its operating profit drop by more than 80% to just US$10.1 million, as revenues fell by half to US$83 million. The firm was burned by a 16% drop in fee-earning assets, which fell from US$9.6 billion to US$8.1 billion.
The firm said it suffered US$1.7 billion in net redemptions, offset by US$200 million in performance gains.
“We expect institutional clients to increase allocations as the year progresses [but[ there is not a uniform trend of inflows yet.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.