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HedgeCo.net (West Palm Beach) – In order to achieve capital reduction, Swiss alternative investment company ALTIN AG has launched a share buyback program as part of a broader range of measures to reduce share price discount.

The hedge fund company has already succeeded in bringing the difference between the NAV and the share price from 33% at the end of 2008 to 21.7%. This, among other things, should enable ALTIN’s stock market price to come closer to the NAV.

The Annual General Meeting of shareholders approved a share buyback programme of up to 10% of the share capital. A second trading line for the registered shares of ALTIN will be opened on the SIX Swiss Exchange on 22 July 2009. ALTIN intends to buy back up to 5% of its shares until the end of March 2010.

The offer may be accepted only by Non-US persons, outside the United States.

Alex Akesson

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HedgeCo.net (West Palm Beach) – ALTIN, the London and Swiss-listed fund of hedge funds, has released a full disclosure of its underlying investments and weightings. ALTIN has adopted a position of total transparency, and holds one of the world’s longest track records as an exchange-listed fund of hedge funds.

ALTIN has reduced its cash allocation from 14% on 1 March 2009 to 6.3% on 1 July 2009, as part of an active investment programme into hedge funds to benefit from the current investment opportunities. The portfolio, featuring more than 30 underlying funds representing 10 different strategies, is particularly well diversified and boasts a positive performance of +5.18%[1] to date in 2009.

Only approximately 20% of funds held by ALTIN have restricted redemptions of one form or another. This relatively low proportion does not affect ALTIN as, being a fixed-capital investment company, it is not faced with redemption requests.

The portfolio’s great liquidity allows the investment manager to perform a dynamic management and benefit from the current investment opportunities. The manager has thus launched a significant investment programme in the past months.

ALTIN AG was launched in December 1996 and has been listed on the Swiss Stock Exchange since its inception as well as on the London Stock Exchange since 2001. ALTIN is a multi-strategy fund of hedge funds investing in more than 30 hedge funds representing various investment styles. The Company holds one of the world’s longest track records as an exchange-listed fund of hedge funds. Its objective is to generate an absolute annual return in US dollars terms with lower volatility than equity markets.

ALTIN is managed by 3A SA (Alternative Asset Advisors), a management firm specialised in alternative investments and member of the SYZ & CO Group.

3A currently manages more than USD 2.1 billion in hedge fund assets. 3A also provides alternative research and due-diligence services on an additional USD 4 billion in alternative investments.

Alex Akesson

Editor for HedgeCo.net
alex@hedgeco.net

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

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Tags: alternative investments, alternative research, altin, due diligence services, dynamic management, full disclosure, fund-assets, fund-of-hedge-funds, hedge fund, investment manager, investment-styles, london-stock-exchange, management firm, palm-beach, redemption-requests, redemptions, strategy-fund, swiss stock exchange, syz, west palm beach

West Palm Beach (HedgeCo.net) – Swiss alternative investment company ALTIN AG has said it intends to maintain its share price by buying back between 5% and 10% of its own shares, its Board of Directors has also approved a capital reduction program. ALTIN’s hedge fund’s management performance was predictably negative (-29.20%) in 2008, yet considerably higher than key stock market indices.

2008 proved a particularly harsh year for the financial markets, compounded by additional difficulties specific to the hedge fund industry. The severe credit crisis often forced hedge funds to fire-sell positions.

In addition, the increased correlation between hedge funds and equity markets did not protect them against falling stock markets. In performance terms, the year 2008 has thus been negative for hedge funds and ALTIN proved no exception with a -29.20% fall in its net asset value. However, in light of the losses incurred by world stock markets over the same period, this result is acceptable and hedge funds remain the best performing asset class over the medium term.

Invested in approximately 40 hedge funds, the company has chosen to avoid illiquid strategies that have caused the closing of a number of hedge funds, ALTIN’s manager has been favouring liquidity since 2007.

Tags: accredited-investors, alternative investment, altin, asset class, asset-value, credit-crisis, financial-markets, hedge fund, hedgeco, investment-company, liquidity, management performance, medium-term, palm-beach, performance terms, share price, stock market indices, west palm beach, world stock markets