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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…