Tue, Oct 25, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Gottex 2009 preclose trading statement: AUM down 2.1% in Q4, managed account assets up 25%

Wednesday, January 27, 2010
Opalesque Industry Updates - Gottex Fund Management Holdings Limited (Gottex), a leading independent global alternative asset management group, announces its preclose trading statement for the year ended 31 December 2009.


  • Further positive performance in fourth quarter of 2009 with core market neutral and portable alpha strategies outperforming their relevant indices and during 2009 contributing USD 635 million to assets under management.
  • Gottex Solutions Services (GSS) grows assets on its managed account platform by 25% since previous quarter.
  • Subsequent to the year-end, integration of Constellar funds, broadening Gottex’s offering with more directional products for US onshore and offshore investors.
  • Total subscriptions of USD 310 million during the quarter (excluding Constellar).
  • Total fee-earning assets for the group were USD 8.1 billion (excluding Constellar’s USD 150 million), compared to USD 8.2 billion at 30 September 2009.
  • Strong balance sheet with no debt and substantial cash reserves.

Commenting, Joachim Gottschalk, Chairman and CEO, stated:
“In the fourth quarter we continued the strong performance trend that started earlier in 2009, and I am very pleased to say that our core market neutral and portable alpha products have markedly outperformed their relevant indices. Investors who remained invested in hedge funds through the financial crisis have by and large recovered the vast majority of their 2008 losses, much earlier than many of those who were invested in other asset classes.

“As a result of the positive performance, we have seen increased interest by institutional investors into hedge funds in recent months and we expect to see solid inflows for the industry as the year progresses. Some of the less liquid strategies such as relative value and convertible arbitrage did extremely well in 2009 and the environment remains good for 2010. We believe these will attract additional allocations from institutional investors this year.

“Finally, I am delighted that Ted Wong, CEO and founder of Constellar, has decided to join Gottex. We believe it reflects well on Gottex that people of Ted’s calibre want to join our firm and integrate their existing business with us. We expect that in these times of consolidation there will be a number of smaller quality firms looking for an institutional asset management platform with strong investment processes to grow their business as institutional investors continue to raise the bar in terms of investment resources, risk management, infrastructure and transparency.” Corporate website: www.gottexfunds.com

- FG

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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From Thisismoney.co.uk: The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From CNBC.com: Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Marketwatch.com: Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Forbes.com: Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa