Friday, 28 November 2014
Last updated 13 hours ago
Jul 23 2012 | 11:25am ET
Gottex Fund Management's assets dipped by just over 2% in the second quarter, even as its main strategies posted gains.
The Swiss fund of hedge funds shop said its fee-earning assets fell to US$7.41 billion in the three months to the end of June. Gottex blamed a combination of technical factors and foreign exchange for the decline, especially the euro's weakness.
Those losses were, however, offset by what Gottex called "exceptional performance" by its equity portable alpha and alternative credit strategies. The former added 11.2% and the latter 5.9%, while Gottex's core market neutral strategies returned about 2% on the quarter.
What's more, that has the flagship just 1.1% away from its high-water mark. Gottex said it expects to begin earning performance fees on that fund in the second half.
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