Sat, May 26, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Gottex reveals assets down but returns up over quarter to end June

Tuesday, July 23, 2013
Opalesque Industry Update - Gottex Fund Management announced its trading statement for the quarter ended 30 June 2013.

Highlights included:

  • The flagship fund of hedge funds products continue to perform well and post positive returns 2013 year to date. Exceptional performance by Asian strategies, up 7.9%, alternative credit strategies up 4.2% and portable alpha US equity strategies up 16.2% year to date.
  • Total fee-earning assets for the group decreased by 6.5% to USD 5.941 billion compared to USD 6.36 billion at 31 March 2013, as a result of net outflows and foreign exchange impact.
  • After the more challenging global performance environment towards the end of Q2, Gottex’s second market neutral product is now expected to regain its high water mark in Q3 2013 and will then start accruing performance fees.
  • Completion of the acquisition of a majority holding in UK-based Frontier Investment Management, allowing the group to offer liquid onshore multi-asset products.
  • Completion of joint venture with partners of Australian based consulting firm Zenith offering hedge fund advisory services to local institutional investors.
  • The company expects the 2013 interim results to show a small cash operating loss (subject to audit and final review).
  • Edex, our hedge fund workout service which manages over USD 600 million, won a major third party mandate to take over a hedge fund portfolio of USD 140 million.

Press release

bc

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 - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven