Gottex Assets Fall Further, Now Less Than Half ’08 Levels

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.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs 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…

Editor's Note