Komfie Manalo, Opalesque Asia:
Swiss alternative investment company ALTIN AG outperformed in the first
half of this year and posted 3.43% returns as at end June 30.
Comparatively, the HFRI Fund of Funds Composite Index managed 1.53%
gains while the MSCI World Hedged index posted 3.36% returns during the
In its half year result sent to investors, ALTIN said the
first six months of the year were characterized by a strong and somewhat
renewed appetite for yield, a forceful rotation from
growth/momentum-driven stocks to value stocks and by heightened
geopolitical risk emanating from Russia, Ukraine and the Middle East.
"Overall the first semester of 2014 was positive for most asset classes.
As expected corporate activity has been strong, providing a broad range
of opportunities for managers within ALTIN's Event Driven allocation,
which was the best contributing silo for the period," the report said.
It added that the firm's Equity Hedge allocation (Market Neutral,
Variable Bias and Long Bias) proved resilient throughout the sector
rotation thanks to a good level of diversification in terms of
investment styles. On the other hand, Discretionary Macro funds
generated negative returns on average as they were caught wrong-footed
with mainly pro-cyclical trades.
"However, regarding the Macro space it is worth noting that the best
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