Tue, Jul 7, 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. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner