Fri, Jul 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Swiss fund of hedge funds ALTIN decides not to become an open-end collective investment vehicle after all

Wednesday, September 14, 2011
Opalesque Industry Update - The Board of Directors of ALTIN AG, the Swiss alternative investment company, will not propose to shareholders a possible transformation into an open-end collective investment vehicle.

The current closed-ended fund structure of ALTIN means that the share capital is fixed and that its existing positions are not diluted, as it could happen in an open investment fund, says its website.

According to a release issued yesterday, such a change would not be in the interest of all shareholders because of tax and regulatory aspects in some countries. This restructuring project was one of the options announced in April.

In addition to the discount reduction measures currently in place, the Board of Directors is considering several other options, such as the resumption of the share buyback program, a reduction of the nominal value or an increase of the portfolio publication frequency.

ALTIN AG was launched in 1996 and is listed on the SIX Swiss Exchange as well as on the London Stock Exchange. Currently ALTIN, as a multi-strategy closed-ended fund of hedge funds, is invested in more than 35 hedge funds representing diverse investment strategies. Its estimated NAV, as at 13th September 2011, is USD 67.21(-3.76% YTD), and is up 167.6% since its Dec-96 inception. It is managed by Alternative Asset Advisors SA, a management firm specializing in alternative investments and a member of the SYZ & CO Group.
B. Gravrand

See our most recent article on Altin:
Opalesque Exclusive: Swiss fund of hedge funds ALTIN flat in H1, adds CTA manager Welton to portfolio Source

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Opalesque Roundtable: European family offices struggle to retain their investments in offshore hedge funds[more]

    Komfie Manalo, Opalesque Asia: The European Union’s Alternative Investment Fund Managers Directive (AIFMD) will constrain investment opportunities amidst concern a number of U.S. fund managers will stop marketing their products in the European Union under the new rule, said Valentin Bohländer fro