Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
17/11/2010
Gottex enters Ucits space
Gottex Solutions Services (GSS), a subsidiary of alternative asset manager Gottex Fund Management, has become the latest entrant to the hedge fund Ucits space, joining forces with OFI Group to launch a new managed account platform for European onshore funds.
The new umbrella, LUMA Solutions Services, will provide onshore managed account services to Ucits and other European onshore funds and has secured an initial asset base of $350m. LUMA will be domiciled in Luxembourg, subject to approval from the Grand Duchy's regulatory authorities.
GSS will provide managed account and risk management services to LUMA, while OFI, a French asset manager with over 48.7bn in AuM, will offer distribution and experience in the Luxembourg market.
Commenting on the launch, Joachim Gottschalk, Chairman and CEO of Gottex, said: "The close cooperation between Gottex and Ofi Group brings together two leading asset management firms, with the ambition to provide global investors and fund managers with a market leading platform, and addressing the needs of the onshore European investment market."
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