Switzerland's Gottex Fund Management has confirmed some of its funds of funds are exposed to a US company at the centre of fraud allegations and are likely to suffer "a material negative impact" on performance.

The $15.6bn (€11.1bn) manager said, in aggregate, its two funds of asset-backed lending hedge funds, and its separate accounts pursuing the same investment strategy, are exposed to Petters Group Worldwide.

Swiss hedge fund confirms exposure to US company under investigation

David Walker

Gottex Fund Management

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