Saturday, 25 October 2014
Last updated 1 day 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.