Gottex Fund Management Holdings’ total assets increased by 2.6% during the quarter ended 30 June 2011 to USD8.9bn, according to the company’s latest trading statement.
The increase was primarily as a result of subscriptions of USD 550 million at Gottex Fund Management (GFM) and Gottex Solutions Services (GSS).
Gottex’s flagship MN Plus product regained its high water mark in January 2011 and has accrued performance fees for 1H 2011.
GSS continued to grow its assets which increased 14% from USD 1.84 billion at March 2011 to USD 2.10 billion by June 2011, of which USD 1.54 billion are related to the GSS managed account platform.
Joachim Gottschalk (pictured), Chairman and CEO, says: “Even though the second quarter of this year turned out to be very volatile, I am delighted that our market neutral strategies continue to generate another quarter of positive performance, which puts us well ahead of the industry benchmarks. Risk levels in financial markets have remained high, and we expect the European sovereign debt crisis to add to more volatility in coming quarters.
“In terms of assets Gottex had a positive quarter with subscriptions of USD 550 million. These inflows were concentrated in our advisory mandates as well as our GSS managed account platform. We are on track to reach USD 2 billion in platform assets this year. In addition, our multi-asset endowment strategies have made good progress and have now grown to USD 150 million. On the back of strong performance since inception, we have seen growing distributor interest in this product. Even though asset flows in the industry have remained modest, I am pleased to say that we expect the company to return to profitability and that we should post a small profit for the first half of the year.”