Mon, Jul 28, 2014
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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  4. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass