Wed, Jun 1, 2016
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 - Scientist turned hedge fund founder cuts profitable Aussie short, Pelargos joins hedge funds’ bet on turnaround at Honda, Managers set to cash in on infrastructure debt upswing[more]

    Scientist turned hedge fund founder cuts profitable Aussie short From Bloomberg.com: AE Capital, a hedge fund run by a former atmospheric scientist, trimmed bets against the Australian dollar as it gauges shifts in the world’s two biggest economies. The Australian, Canadian and New Zeala

  2. He's lost £200m in a year - so has Britain's star hedge fund boss Crispin Odey lost his golden touch?[more]

    From Thisismoney.co.uk: ...Odey’s laid-back attitude gave no indication of the turmoil his flagship fund had put investors through. It had tumbled 20 per cent in May – a terrible performance given most of his rivals were in positive territory for the year. Odey’s fund had got into trouble after taki

  3. Comment - If you’re such a great investor, where’s your alpha?[more]

    From Mineweb.com: … They are few and far between. You likely know their names. There is a short list of those who have 1) outperformed; 2) over long periods of time, and; 3) manage substantial sums of money. It’s impressive if you are on that list, but discouraging if you seek to invest institutiona

  4. European fund managers 'dressing up’ track record to gloss on performance[more]

    Komfie Manalo, Opalesque Asia: A new study by global analytics firm Cerulli Associates has found that the problem of 'dressing up' track records by fund managers is getting worse. In its latest issue of The Cerulli Edge - Europe Edition,

  5. Why the equity short bias hedge fund underperformed in April[more]

    From Marketrealist.com: The Barclay Equity Short Bias Hedge Fund returned -0.83% in April 2016. However, on a year-to-date basis, the fund provided a return of 3.4% through April 30, 2016. The equity short bias strategy works best when the Market is in a downturn. From January 2016 to mid-Febr