Sun, Mar 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

ALTIN FoHF’s net asset value rose 10.17% in 2013, ahead of rivals and benchmarks

Thursday, January 16, 2014

Komfie Manalo, Opalesque Asia:

The $230m Swiss and London-listed fund of hedge funds ALTIN AG reported that it more than accomplished its investment mandate, both in terms of net asset value (NAV) appreciation and especially in terms of share price increase after its NAV rose by 10.17%, ahead of peers and industry benchmarks.

In a statement, ALTIN said that at least two investment decisions taken over the last 18 months added close to 3% to the fund of hedge funds’ 2013 performance. "More importantly, ALTIN's share price rose by +24.65%, fuelled by a partial closing of the discount and, to a lesser extent, by the two capital reductions that were undertaken in 2013," the firm said.

ALTIN’s board also decided to link its capital reduction policy directly to share price performance. "When share price appreciation is satisfactory, the Board considers that indiscriminate capital reductions are not in the best long-term interests of the majority of shareholders and of the company. In the future and so long as the discount does not narrow significantly, capital will be returned to compensate investors when share price performance falls below a 10% to 12% target. Such capital reductions will be conducted exclusively through the repurchase of own shares. The Board will no longer propose capital distributions in the form of tax-free dividends out of the share premium account in future," it said.

Despite a modest incre......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Adamas Asset Management and Ping An Insurance to co-manage $500m debt fund[more]

    Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of und

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie