Monday, 30 March 2015
Last updated 2 days 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…