Gottex Fund Management’s recovery continued in 2010 with the company’s asset base growing by USD1bn in the past nine months to reach USD8.5bn as of 28 February 2011, according to a statement to shareholders made today by Chairman and CEO Joachim Gottschalk.
"Our main market neutral product regained its high water mark and continued to outperform its benchmarks. GSS, our solutions business, quadrupled assets over the year and launched LUMA Solutions, the exciting joint venture with OFI Asset Management, at the end of last year. In addition, our public multi-asset funds, the Multi-Asset Endowment Fund and the Multi-Alternatives Fund, received their SEC registration in December 2010," says Gottschalk.
“In general, 2010 was a positive year for hedge fund returns, although the absolute level was affected by the reversal in global financial markets in the second quarter of the year. We saw asset flows for the hedge fund and fund of hedge funds industry turn positive during the year, indicating the re-emerging interest in our asset class. Regionally, this was led by the US with client activity in Europe recently picking up. With regards to Asia, Gottex believes it offers excellent opportunities in the medium term to high quality alternative asset managers willing to commit permanently to the region.
“Looking forward, we are pleased that our positive start to the year has continued. Our core products should be able to achieve their investment objectives this year. We believe that we have taken the right steps by maintaining our strong team and investment platform during this period in anticipation of the return to growth. We aim to play a role in the consolidation process of our industry, provided the right opportunity presents itself. We are optimistic that client asset flows should improve steadily as the year progresses, even though political, environmental and economic uncertainties will continue to generate volatility, and we look forward to returning to a period of growth."