Articles tagged with gottex
09/09/2010
Gottex Fund Management continued to enjoy positive cash earnings in the first half of 2010, despite a fall in gross revenues, according to its latest interim results.
In the six-month period ending 30 June 2010, Gottex enjoyed a cash operating profit of $2.3m; however, this was down from $5.9m in the second half of 2009 (2H09) and $13.7m in 1H09.
Gross revenues also declined in comparison to previous half-year results: from $46.1m in 1H09 and $36.7m in 2H09 to £32.9m in the first half of this year.
Gottex also saw total fee-earning assets
19/04/2010
The coming two years will see the return of inflows from both private and institutional investors, Joachim Gottschalk, chairman and CEO of Gottex Fund Management will announce at the firm’s Annual General Meeting to be held later today.
In a statement to shareholders, Gottschalk will state that “the strong performance by hedge funds in 2009 will translate into institutional inflows for the industry as the year progresses, followed by inflows from private investors in the year thereafter,” adding that “on the back of our strong investment performance during the past year, we believe Gottex is well positioned
19/02/2010
Fund manager Gottex has teamed up with FrontPoint Partners, the multi-strategy investment management firm, to form a new direct lending venture. The move sees the two firms seeking to capitalise on the current dislocation in the loan market to small and mid-sized companies.
The venture will focus on making secured loans to US and European middle market companies, utilising both FrontPoint’s Direct Lending strategy and a customised Gottex Direct Lending strategy, and will be managed by direct-lending specialist Steve Cezh. Cezh, who has 20 years experience in the leveraged finance space, will head up the operation from
03/02/2010
Analysts continue to question Man Group’s strengths in the long term. The share price in the world’s largest listed hedge fund fell 6.5% after poor early-year results in its flagship Man AHL fund were announced last week. Earlier in the year, Man announced poorer-than-expected results for the end of 2009, making it the first down year for the flagship fund.
Analysts appeared caught out by the asset outflows from the whole business for the last three months of 2009 and suffered from the general uncertainty surrounding the UK banking sector, which filtered through to Man Group.
22/07/2009
Despite a slip in assets under management, Swedish fund of hedge funds Gottex has forecast a positive second half of the year.
This quarter’s trading statement revealed $8.1bn in AUM at 30 June compared to $8.5bn at 31 March.
However, the group’s new managed account platform, GSS, has attracted its first assets since June, adding another $100m in AUM. The fund also attracted a new mandate and investments from Nestlé.
Commenting on the group’s gains, the chairman and CEO, Joachim Gottschalk, said “looking ahead, we see tentative signs that institutional investors will return to the hedge fund market,” adding that he
15/07/2009
Swiss-based fund of hedge funds (FoHF) Gottex is believed to be considering legal action against ABL fund manager New Stream, claiming that one of its funds used levels of leverage that fell far outside its original mandate.
Although formal litigation proceedings have yet to be launched, any future case is likely to be filed with the Bermuda court system.Commenting on the affair, Gottex said that it did not talk about “pending legal” actions. A spokesperson for New Stream confirmed that the firm was aware of the issue, thought to concern its New Stream Secured Capital Fund.
