Assets, Profits Fall, But Gottex Ups Dividend

Mar 26 2009 | 10:55am ET

Swiss fund of hedge funds shop Gottex Fund Management saw its profit fall by 41% last year and assets under management by 40%, it said yesterday.

Despite the setbacks, the firm is pleased enough with its performance during the first few months of the year to boost its dividend by a third.

“We are seeing improved liquidity in the hedge fund market and in our portfolios,” the firm said.

Gottex’s assets under management fell to US$9.6 billion, and the firm warned it was unlikely that assets would rise until “towards the end of the year.” Profit at the firm fell to US$42.9 million.

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