Sat, Jun 25, 2016
A A A
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.

Highlights:

  • 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. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider