Gottex Assets Fall

Apr 23 2010 | 1:09pm ET

Gottex Fund Management CEO Joachim Gottschalk may be confident that inflows are coming to his firm. But there was no sign of them in the first quarter.

The Swiss fund of hedge funds shop said today that its fee-earning assets dropped 2.6% on investor redemptions, despite positive performance. All told, the firm’s assets fell by 2.5% to US$7.9 billion as Gottex continues to liquidate its asset-based funds.

The declines didn’t faze Gottschalk, however.

“I believe Gottex, as a larger, well-resourced firm, is well-positioned for the next wave of growth that the hedge fund industry will undoubtedly see,” he said. “As such, we continue to evaluate opportunities to integrate other firms with complementary products or who lack scale to attract institutional assets.”

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