Gottex Sheds $2 Billion In Assets

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.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...