Gottex Fund Management, the UK-listed independent asset management firm, reported fee-earning assets of $8.9 billion for the second quarter of 2011, a 2.6 per cent upswing from the previous quarter.

At the same time, the company's $6.76 billion of assets under management were slightly down compared with the first quarter, as inflows of $310 million were offset by client redemptions of $360 million.

The firm said in a statement that it was happy to see its strategies doing well in a quarter that turned out to be volatile.

“Risk levels in financial markets have remained high, and we expect the European sovereign debt crisis to add to more volatility in coming quarters,” said Joachim Gottschalk, chairman and chief executive.