Tuesday, 24 November 2015
Last updated 33 min ago
Jan 30 2012 | 1:26pm ET
Despite a strong fourth quarter, the news out of Gottex Fund Management is bleak.
The Swiss fund of hedge funds said that its assets under management dropped, forcing it to cut costs—and pay—this year. Assets dropped about US$1 billion to US$7.34 billion as some larger institutional investors pulled their money to invest in hedge funds directly. Worse still, Gottex doesn't expect investors' appetite for funds of funds to improve for at least six months.
"We expect uncertainty to remain for the remainder of this year, which will impact investor willingness to make allocation decisions," CEO Joachim Gottschalk said.
Gottex's flagship funds lost ground last year, the firm said, but less ground than the average hedge fund. Its credit and multi-strategy hedge funds posted gains, of 3.8% and 3.4%, respectively.
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…