Opalesque Industry Update: At the end of its annual general meeting held yesterday, ALTIN AG (SIX: ALT, LSE: AIA), the Swiss alternative investment company, commented on its final results for 2010. In a generally gloomy financial environment, ALTIN achieved a very positive investment performance in 2010 of +12.47%, easily outperforming the funds of hedge funds index, HFRI FoF (+5.67%). Its highly liquid portfolio allows its manager to follow a dynamic management approach and to take advantage of the investment opportunities. Dr. Peter Altorfer was elected the new Chairman of the Board of Directors, replacing Dr. Peter Beglinger. Finally, the annual general meeting accepted the capital reduction of 470 000 shares that were repurchased in the second trading line as part of the share repurchase programme completed on December 17, 2010.|
Signs of hope and factors of uncertainty succeeded one another throughout the year 2010, giving rise to a switchback trend for the main asset classes. In a difficult environment, ALTIN managed to do particularly well with an investment performance of +12.47% in 2010, which easily outclasses the funds of hedge funds index, HFRI FoF, which rose by +5.67% These good results were made possible notably by the implementation of the investment programme initiated in 2009, which resulted in a very flexible and liquid portfolio. The best performance contributors were the Long/Short Equity strategies, as well as Macro, placing the emphasis on commodities, followed by the Event Driven managers and the multi-strategies funds. Leverage remained stable at around 120% during the past year, thus marking the manager’s confidence in the opportunities that exist in the hedge funds industry.