Sat, Apr 25, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Gottex Fund Management’s assets drop 9% in first quarter on client outflows

Wednesday, April 24, 2013

From Komfie Manalo, Opalesque Asia – Global alternative asset management group Gottex Fund Management reported that its earning assets decreased by 9.0% to $6.41bn in the first quarter of this year compared to $7.bn at 31 December 2012 due to client outflows.

However, the group said the losses were partly offset by new inflows in Asia amounting to $150m and the acquisition of a majority interest in Frontier Investment Management and positive performance.

Last March, Gottex reported it had reached an agreement on the acquisition of a majority interest in Frontier Investment Management, a multi-asset investment management firm in the UK. The consideration involves a combination of Gottex shares (up to 0.45 million at current share price) and additional cash, payable over a period of two years and adjusted for Frontier’s future revenues. Gottex expects the acquisition to be accretive on an operational profit as well as on a fully diluted earnings per share basis within one year, partly due to expected synergies. Completion of the acquisition is subject to certain conditions, including regulatory approval.

Commenting, Joachim Gottschalk, Chairman and CEO, stated: "The global financial rally has continued to enhance hedge fund returns. Alternative investments including hedge funds will play an increasing role when instit......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  4. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

  5. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

 

banner