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October 26, 2004 at 08:00 PM
NEW YORK (HedgeWorld.com)–With its total assets under management reaching US$3.6 billion, London- and Lausanne-based fund of funds firm Gottex Fund Management plans to close the two-times leveraged share classes of Gottex Market Neutral Fund, on Dec. 1.
The move follows the capping of this fund’s three-times leveraged classes earlier this year. At that time, assets were at US$3 billion (see ).
Recently Dorset County Pension Fund, United Kingdom, decided to invest ?22.5million (US$ 40.5 million) in the Gottex market neutral vehicle. This allocation is part of the pension’s new absolute return portfolio, comprising 5% of its total assets.
“While we have reached our targeted capital level for leveraged share classes, we remain interested in working with clients seeking exposure to our Market Neutral Fund’s non-leveraged classes,” said Gottex chief executive Joachim Gottschalk, in a statement. He added that other Gottex funds continue to offer leveraged access to conservative hedge fund strategies.
