Gottex Fund Management has seen its assets under management soar by more than US$1 billion over the past nine months, the Swiss fund of hedge funds shop told shareholders today.
CEO Joachim Gottschalk crowed that assets grew to US$8.5 billion by the end of February and that its solutions business, GSS, has seen its assets jump four-fold over the year. In addition, Gottschalk reported that Gottex's flagship market-neutral fund has returned to its high-water mark, and pointed to GSS's launch of a joint venture with OFI Asset Management.
"In general, 2010 was a positive year for hedge fund returns, although the absolute level was affected by the reversal in global financial markets in the second quarter of the year," Gottschalk said in a press release issued to coincide with Gottex's annual meeting. "We saw asset flows for the hedge fund and fund of hedge funds industry turn positive during the year, indicating the re-emerging interest in our asset class."
"Looking forward, we are pleased that our positive start to the year has continued. Our core products should be able to achieve their investment objectives this year. We believe that we have taken the right steps by maintaining our strong team and investment platform during this period in anticipation of the return to growth."
Gottschalk cited Asia in particular, noting that "it offers excellent opportunities in the medium turn to high quality alternative asset managers willing to commit permanently to the region."