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Komfie Manalo, Opalesque Asia:

Swiss listed multi-strategy fund of hedge fund ALTIN AG on Wednesday said it would reduce its medium-term exposure in hedge funds and alternatives.

The announcement was made by the Board of Directors of ALTIN AG after they were informed of the decision by Alpine Select AG, the majority owner of the fund of hedge fund.

ALTIN said that Alpine Select AG issued a press release saying, "At today’s meeting, the Board of Directors of Alpine Select Ltd. has taken the decision in principle, to reduce in medium-term its exposure in hedge funds - held directly as well as indirectly via its majority holding in ALTIN Ltd. - and to again increasingly focus on our traditional topics and/or investment strategies."

Currently, Alpine Select Ltd holds directly or indirectly a total of 61.21% in ALTIN Ltd. As ALTIN has announced on 30 May 2016 as well as on 21 June 2016 that the repayment in the amount of total CHF 24 per share as proposed by Alpine Select and decided by the shareholders of ALTIN is envisaged to be executed in September 2016. Alpine Select Ltd has an interest to further expanding its holding in ALTIN Ltd.

Should Alpine Select Ltd. be able to further expand its holding in ALTIN, Alpine Select Ltd. shall seek negotiations with the board of directors of ALTIN Ltd. in the fourth quarter 2016 on a possible full consolidation or merger of the business activities of both companies.

In......................

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