Sunday, 26 April 2015
Last updated 2 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…