Gottex Fund Management, an alternative asset management group, has reported an increase in total fee earning assets of 6.9 per cent to USD7.8bn at 30 Septemner 2010, compared to USD7.3bn at 30 June 2010.
The increase was as a result of substantial subscriptions at Gottex Fund Management and Gottex Solutions Services.
Gottex says market neutral strategies posted positive performance year to date, continuing to outperform many fund of hedge funds indices.
Gottex Solutions Services more than doubled its assets from USD450m at June 2010 to USD1.01bn by September 2010.
Gottex has a debt-free balance sheet with cash reserves of USD41m.
Joachim Gottschalk, chairman and chief executive, says: “GSS has made excellent progress in Q3 and I am also pleased with the progress made by our Ucits III fund of hedge funds, which has generated positive performance since its launch in July and now has been passported to Germany, the UK, Italy and Austria.
“Given the global uncertainty about economic and market developments, investors remain hesitant to make asset allocation decisions. However, we are seeing a pick-up in activity in certain areas such as customised solutions and managed accounts as witnessed by GSS doubling its asset base. We expect industry growth to accelerate as investors start looking for higher risk adjusted returns over the relative safe havens of cash and bonds.”
