Alt Investments

Gottex Returns To Profit As CEO Warns Of Short Term Risks

Nick Parmee 14 September 2011

Gottex Returns To Profit As CEO Warns Of Short Term Risks

Gross revenues of $31.9 million for the first half of 2011 (first half 2010 $32.9 million, second half 2010 $30.9 million) saw a net profit of $1.0 million (1H 2010 loss of $2.4 million, 2H 2010 loss of $1.1 million) at Lausanne-headquartered hedge fund manager Gottex.

The firm’s flagship market-neutral strategies posted a positive performance for the year to date as total fee-earning assets increased to $8.9 billion at the end of June 2011 from $7.3 billion 12 months earlier.

“We expect the recent on-going economic uncertainty and the European sovereign debt crisis to impact near term client flows to our industry,” chairman and chief executive officer Joachim Gottschalk said in a statement.

“On a short term horizon, Gottex, like the rest of our industry, has to be prepared to face a volatile risk-on, risk-off environment, but we remain positive about the longer term outlook, as the relative stability of hedge fund returns will draw investors back to our asset class.”

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