Gottex Liquidates Endowment Strategy Fund

Gottex Liquidates Endowment Strategy FundAfter two successive calendar years of under-performance relative to its multi-alternative fund peers, Gottex Fund Management has shut down the Gottex Endowment Strategy Fund (GTEAX). The fund was liquidated earlier this month according to an SEC filing made in February.

As reported in 2013, the fund allocated across both traditional (stocks and bonds) and alternative asset classes and strategies (hedge fund strategies, private equity / special opportunities and real assets) in an attempt to provide investors with a portfolio that is similar to leading endowment funds.

Gottex was founded in 1992 and is focused on alternative multi-manager and multi-asset class portfolios, primarily for institutional investors and high-net worth individuals. As with other hedge fund of funds and institutionally focused alternative asset managers, Gottex launched the mutual fund to attract assets from the retail market. However, the fund generated only a slightly positive return of 0.30% in 2014, and fell 5.98% in 2015. The fund’s returns lagged the Endowment Index in both years, which generated returns of 5.02% and -3.17%, respectively.