Mon, May 25, 2015
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. Comment - Top hedge fund managers talk about how easy their jobs have gotten, BlackRock to Schroders warn of Argentina’s $20bn bond glut, The 35-year “investment supercycle” is drawing to a close, says Bill Gross, Gundlach: When the Fed starts hiking rates, 'GET OUT' of this asset class[more]

    Top hedge fund managers talk about how easy their jobs have gotten From Businessinsider.com.au: Time was, before the financial crisis hit, corporate boards treated multi-billion dollar hedge fund managers like Jehovah’s Witnesses pounding on their doors and flashing bibles. But no more.

  2. T Rowe's challenge to Dell deal may fuel critics of 'appraisal'[more]

    From Reuters.com: An increasingly popular tactic used by hedge funds and others to extract more money from buyouts could soon face a major courtroom test when a big investor in Dell Inc may argue that it should be paid a higher price for the 2013 acquisition of the PC maker. The strategy, known as "

  3. News Briefs - Ergen says LightSquared plan unfairly favors hedge funds, Why hedge fund managers make good advisory clients, I learned a lot about dad-bros after spending 4 days in Vegas with 2,000 hedge funders[more]

    Ergen says LightSquared plan unfairly favors hedge funds LightSquared Inc.’s bankruptcy plan gives hedge funds that invested in the broadband company a leg up while blocking telecommunications firms from competing with it, a fund owned by Dish Network Corp. Chairman Charles Ergen said in

  4. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  5. New market regime has created more dispersion between managers[more]

    Komfie Manalo, Opalesque Asia: The month of April has marked the transition toward a new market regime, Philippe Ferreira, Lyxor AM’s head of research, managed account platform, commented in the May 5's Weekly Briefing. "The first quart

 

banner