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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Tags: 22 july, accredited-investors, alex, alternative investment, altin, annual general meeting, hedge fund company, hedge funds, investment-company, measures, meeting of shareholders, nav, palm-beach, share buyback program, share capital, share price, stock market price, swiss exchange, united-states, west palm beach

Reuters – Nicola Horlick’s boutique fund manager Bramdean Alternatives said on Thursday it has received an approach for a possible takeover by an unnamed bidder.

The manager said in a statement: "The Board announces that it has received an approach which may or may not lead to an offer being made for the entire issued share capital of the Company."

At the end of last year Bramdean, headed by well-known fund manager Horlick, said it had an exposure to Bernard L. Madoff Investment Securities representing 9.5 percent of its net asset value at the end of October.

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Tags: asset-value, bramdean, investment-securities, madoff, nicola-horlick, reuters, s boutique, share capital, takeover