Fund-of-hedge-funds firm Gottex has hired Steven Lee Hyungwk as marketing director for the Asia-Pacific region.

He will be based in the Hong Kong office and will report to Max Gottschalk, the head of Gottex’s Asia-Pacific business, who is also responsible for the firm’s global business and marketing.

Gottschalk, who co-founded the fund-of-funds business in 1998 and is the son of the CEO and chairman Joachim Gottschalk, relocated to Hong Kong earlier this year.

Lee Hyungwk joins Gottex from Wellington Management Company where he was a member of the marketing team since 2001 and was closely involved in client management and business development in Asia, particularly Korea, Hong Kong and China.

In the summer Gottschalk told AsianInvestor that approximately 5% of Gottex’s assets under management come from Asian investors. His target is to raise that percentage to 30% and he has been travelling extensively in the region meeting investors. Lee Hyunkwk will be supporting him in that mission. 

Gottschalk added that Gottex has deployed about $400 million in Asian exposure across various products. It has one dedicated Asian product called Gottex Tiger Fund, which operates on a target volatility of 7% to 8%.

All of Gottex’s products are up year-to-date, which Gottschalk attributes to the firm’s portfolio managers steering clear of beta-themed strategies.