Tuesday, 7 July 2015
Last updated 9 hours ago
Jul 21 2010 | 10:39am ET
It’s been a rough couple of years for the fund of hedge funds industry, and Switzerland’s Gottex Fund Management is no exception.
The firm saw its assets under management sink to US$7.3 billion in the second quarter, leaving Gottex with less than half the amount it managed just two years ago. Two-thirds of the US$600 million decline was attributed to currency moves, with the remaining US$200 million coming primarily from liquidating hedge funds returning assets.
“We are pleased that our flagship market-neutral strategies have show positive performance in the year to date,” CEO Joachim Gottschalk said of the second-quarter results. “However, the general volatility has affected the propensity of institutional investors to make asset allocation decisions and as such asset-raising efforts have become more prolonged.”
Still, Gottschalk said Gottex should see a US$500 million windfall as several new mandates should be funded in the third quarter.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…