Mon, Dec 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Gottex’s flagship market neutral strategy regains high watermark, total assets $8.49bn as at end-Feb, up 3% from end-2010

Thursday, March 24, 2011

Joachim Gottschalk
Opalesque Industry Update - Gottex Fund Management Holdings Limited (Gottex), a leading independent global alternative asset management group, announces its annual results for the year ended 31 December 2010.

Highlights:

• Outperformance of indices in 2010 continuing in first two months of 2011 with core market neutral, multi-asset, equity and bond products outperforming relevant benchmarks.

• Gottex’s flagship market neutral plus product regained its high water mark in January 2011 and is accruing performance fees.

• Gottex Solution Services (GSS) grew assets five-fold during 2010 to USD 1.58 billion from USD 0.33 billion at 31 December 2009.

• Total fee earning assets grown to USD 8.5 billion at the end of February 2011 from USD 8.3 billion at end of 2010, with GSS increasing to USD 1.77 billion.

• Financial performance in-line with current expectations: gross revenues of USD 64 million (2009: USD 83 million) and in order to support and maintain our institutional platform anticipating the return of industry growth, management implemented a controlled increase in overall operational cost to USD 58 million (2009: USD 55 million); the company generated a cash operating profit1) of USD 3.7 million (2009: USD 19.6 million) and basic EPS (losses) of USD -0.10 (2009: USD 0.25).

• Debt-free financial position and substantial cash reserves.

Commenting, Joachim Gottschalk, Chairman and Chief Executive Officer, stated:

“Gottex’s recovery continues as our main market neutral strategy regained its high water mark and continued outperforming its benchmark whilst GSS, our solutions business, continues its strong growth. We believe positive fund performance will continue in 2011 and that client flows will pick up as investors seek higher risk adjusted returns. However, the business environment remains very competitive, and economic, environmental, sovereign and political risks combined with inflationary pressure and interest rate uncertainties are likely to lead to another volatile year.

“Gottex remains a cash generative business with a strong, debt-free balance sheet. As one of the largest global fund of hedge funds managers, we expect to play an important role in the consolidation of our industry, provided we can combine people, products and value in such a way, as to present clear advantages for Gottex’s clients and shareholders. The maintenance of our institutional platform and further expansion into the Asian markets makes us believe that the company will continue its progress and we are confident about the medium term outlook.

Full press release: Source

GFMH Annual Report 2010 (final) can be accessed here: Source

Incorporated in Guernsey, Gottex is the holding company of a leading independent global alternative investment management group whose core business is providing investment management services to a diversified range of hedge funds and funds of hedge funds.

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. North America - Why Steve Cohen, Connecticut hedge fund billionaire, gives so much in New York[more]

    From Insidephilantrophy.com: Billionaire Steve Cohen was born in Great Neck, New York before attending Wharton, working on Wall Street and then founding SAC Capital Advisors in Connecticut. Though his company (Point72) and foundation are based in Connecticut, Cohen and Alexandra are deeply connected

  5. Investing - Soros buys a highly speculative biotech in the third quarter[more]

    From Fool.com: …The Soros Fund bought 25,000 shares of the struggling small-cap biopharma Aegerion Pharmaceuticals in the third quarter. For those of you who haven't heard of this name, suffice to say that this was a surprising buy in light of the company's recent problems and poor outlook going for