Poor fund performance, driven down by the global market volatility in the third quarter, and the loss of an advisory mandate, have pushed assets down at Gottex Fund Management, according to its latest trading statement.
To end September 2015, the firm saw total fee-earning assets for the group of USD8.25 billion compared to USD8.55 billion at June 30 2015.
However, the firm writes that their new Alternative Risk Premia initiative, launched in August with an initial mandate totalling USD200 million, outperformed their traditional exposure on a relative basis over September.
The firm adds that it is streamlining its various businesses, with the expectation of a return to operational profitability in the first half of 2016.
Commenting on the results, Arpad Busson, Executive Chairman, said: “The recent market dislocation is a reminder of the globalisation of the financial markets. The impact of regulatory compliance and the curtailing of actors in the market are clearly creating surprises and adjustments to volatility, and highlight the importance of alternative investments in diversifying portfolios.”
