Gottex Fund Management’s flagship strategy suffered an 8% drop in the value of its assets during the second quarter of the year, despite making money on its investments, mirroring the performance of the group as a whole and a trend in the wider hedge fund community.

The value of assets held in Gottex's fund of hedge funds fell to over the three months to the end of June, despite the strategy making money for clients, according to the group's chief executive Joachim Gottschalk.