Friday, 22 August 2014
Last updated 2 hours ago
Sep 13 2011 | 1:31pm ET
Gottex Fund Management is back in the black. The Swiss fund of hedge funds shop said today that it posted a first-half profit after a losing 2010.
Gottex earned US$1 million in the first six months of the year; in the first half of last year, it lost US$2.4 million on its way to a US$7 million pre-tax loss for the full year.
The Zürich-based firm credited strong returns and a big increase in assets under management for the turnaround. Gottex now runs some US$8.9 billion, up 22% from the year-earlier period; that growth came primarily from Gottex's managed account platform.
"Gottex, like the rest of our industry, have to be prepared to face a volatile risk-on, risk-off environment, but we remain positive about the longer-term outlook, as the relative stability of hedge fund returns will draw investors back to our asset class," CEO Joachim Gottschalk said.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note