Opalesque Industry Update - ALTIN AG, the Swiss alternative
investment company listed on the London and Swiss stock exchanges, today
discloses its entire hedge fund portfolio holdings as part of its policy of full
transparency to investors initiated in 2009. The portfolio, featuring over 35
underlying hedge funds representing 10 investment strategies, is particularly well
diversified and recorded a performance of +3.87%1 in the year to 1st October
Full details here: Source.
ALTIN emphasises Macro and Equity Long/Short
Currently the majority of ALTIN’s underlying investments offer redemption frequency terms of 3 months or less. This high level of liquidity means ALTIN is in a strong position to take advantage of specific opportunities in a quicker manner than many funds of hedge funds and without being at risk of significantly altering its liquidity profile.
At the portfolio level, the most noticeable changes were first of all an increase in the allocation to Macro strategy funds, from 19.51% in July 2010 to the current 22.46%. The increase was focused specifically on managers biased towards commodities. These are very experienced managers that are currently closed to new investment and offer very promising strategies in the current economic environment. The exposure to Equity Long/Short was also increased and as of the beginning of October accounts for 32.24%, up from 29.15% in July 2010. Finally, the investment manager also continued to allocate to Event Driven strategies across the different underlying investment vehicles.
These increases were not accompanied by a corresponding reduction in other strategies.
This resulted in a higher leverage level for ALTIN, with gross exposure going from 117.83% to 122.71%. The willingness of the investment manager to take advantage of ALTIN’s leverage facility indicates a growing conviction of better perspectives for hedge funds and a readiness to make sure ALTIN benefits.
The underlying changes to the portfolio highlight ALTIN’s active allocation strategy of continuously identifying superior investment talent within the current macro investment outlook. This is possible thanks to the extensive research accumulated by the investment manager on hedge funds worldwide and ALTIN’s 15-year track record.
ALTIN: not affected by redemption issues
ALTIN is a closed-ended and fixed capital fund and as such it is not faced with redemption requests. This provides the investment manager with the opportunity to select the best risk/reward opportunities in the hedge fund universe. Investors can freely buy and sell ALTIN shares on a daily basis on the London or Swiss stock exchanges, without the need to redeem at fixed redemption dates.
ALTIN is managed by Alternative Asset Advisors SA, a management firm specialised in alternative investments and a member of the SYZ & CO Group. www.altin.ch