Reuters – Swiss fund of hedge funds manager Gottex GFMS.S said it would slash running costs by 15 percent in 2012 after assets fell by some $1 billion (637 million pounds) from a year earlier as some large clients pulled money in order to invest directly in hedge funds.
The fund’s assets under management have fallen to $7.34 billion, less than half the $15.6 billion the company had in June 2008 before the worst effects of the financial crisis hit.
