Thursday, 29 January 2015
Last updated 15 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…