Tuesday, 5 May 2015
Last updated 2 hours ago
Oct 21 2008 | 10:11am ET
Swiss hedge fund shop Gottex Fund Management saw more than US$2 billion in assets evaporate amid the market turmoil during the third quarter.
The firm said it managed US$13.5 billion at the end of September, down 13.6% from the US$15.6 billion it held at the end of the second quarter.
“Many of Gottex’s products have performed in line with or better than the broader market indices and relevant benchmarks, but the unprecedented turmoil in the financial industry had a negative impact on performance, and has continued into October,” Gottex said today. “Gottex expects a further short-term downward impact on AUM due to deleveraging trends, investor portfolio adjustments resulting from concentration issues and liquidity requirements as well as foreign exchange impacts.”
Gottex said the global push by governments to shore up the banking industry should provide some “respite,” and that it expects to resume growing when the markets stabilize.
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…