Saturday, 20 December 2014
Last updated 15 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.
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…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.