Tue, Jan 24, 2017
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 - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised