Beverly Chandler, Opalesque London:
The independent, global alternative asset management group Gottex Fund Management Holdings has announced its quarterly trading statement to end September 2013. Highlights from the statement include the news that core products continued to generate positive returns for 2013 in the year to date. The firm writes that continued strong performance by alternative credit strategies, saw a return of 6.4% year to date, Asian strategies were up 9.8% year to date and equity portable alpha strategies up 23.2% to date.
Total fee-earning assets for the group decreased by 2.4% to $5.80bn compared to $5.94bn at 30 June 2013, as a result of limited net outflows. The firm also reported that their second market neutral product regained its high water mark at the end of September 2013 and will now start accruing performance fees. Other highlights included the news that Gottex and Australian based institutional investment consulting firm Zenith Investment Partners’s joint venture, ZGA, got their first hedge fund advisory mandate, while Edex, Gottex’s hedge fund workout service, now manages over $640m.
Joachim Gottschalk, Chairman and CEO commented: "Despite some volatility around the fiscal debate in the US, financial markets performed well at the end of the third quarter and enhanced hedge fund returns for the year. Product performance over t......................
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