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Return to operational profitability for Gottex in 2011

Tuesday, March 27, 2012

Beverly Chandler, Opalesque London: Results released by Gottex Fund Management Holdings Limited (Gottex), for the year ended 31 December 2011 show that the firm returned to operational profitability in 2011 with an operating profit of $0.7m. Gottex’s total fee-earning assets as at 31 December 2011 were $7.34bn, down 11% from $8.26bn at 31 December 2010. The total consists of $5.60bn in GFM assets under management and LUMAGSS assets of $1.74bn.

The firm highlighted:

  • Continued positive product performance during the first two months of 2012 with our core market neutral, multi-asset, alternative credit and Constellar multi-strat products up between 2% to 3%.
  • Gottex’s flagship market neutral plus product as well as the alternative credit strategy nearing their high water marks at the end of February 2012 and are close to accruing performance fees during Q2 2012.
  • LUMA-GSS assets of $1.85bn at the end of February 2012, up from $1.74bn at 31 December 2011.
  • Financial performance in-line with current expectations: gross revenues of $58.6m (2010: $63.8m) and substantially reduced overall operational cost of $48.2m (2010: $58.1m) resulted in an operating profit of $0.7m (2010: $5.0m loss); diluted EPS losses of $-0.09 (2010: $-0.10) was generated due to the impact of financial investments and certain impairment charges.
  • Cash and liquid financial investments of $50.8m.

Commenting, Joachim Gott......................

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