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Opalesque Exclusive: Syz`s AUM in alternatives up 43.5% in 2007, slower growth now but no worries
“Hedge funds do not particularly preoccupy us. The current crisis has been testing their stamina, in real-life scale, since August 2007. Despite all that, only around 10 funds have encountered serious difficulties – in a universe of over 10,000 funds,” said Syz’ co-founders, Eric Syz, Alfredo Piacentini and Paolo Luban, to Swiss paper Le Temps earlier this week. The bank is one of the pioneers in alternative investments, and almost 40% of its assets are invested in alternatives.
Despite the financial crisis, Geneva-based Syz & Co. has only recorded a slow-down of asset flow, reports Le Temps. It subsidiary, 3A, which manages alternative funds, saw its assets go up to CHF3.6 billion (US$3.58 billion) at the end of 2007. The level is modest compared to the funds managed by other banks but it represents a jump of 63% since the previous accounts.
The main of the hedge funds managed by Syz is not at 3A, but in one of the private bank’s sections where they represent, at CHF8.6 billion (US$8.55 billion), almost half of the total AUM in this section (amounting to CHF17.2 billion.)
The total amount managed in alternative funds is at CHF12.2 billion (US$12.13 billion), 39.8% of the total AUM managed by Syz (CHF30.7 billion). The 2007 growth rate of 43.5% is superior to the 30.5% growth of all funds under management.
This steady growth of assets goe...................... To view our full article Click here
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