Sunday, 28 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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