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Altin FoHFs reports gains of 2.56% through March, announces portfolio holdings

Thursday, April 15, 2010
Opalesque Industry Update - ALTIN AG, the Swiss alternative investment company listed on the London and Swiss stock exchanges, keeps pursuing its policy of full transparency to investors initiated in 2009 by disclosing its entire portfolio holdings. The portfolio, featuring over 35 underlying hedge funds representing 10 investment strategies, is particularly well diversified and boasted a positive performance of +2.56 %1 in the year to 8 April 2010.

Portfolio as at 1st April 2010 % of Total
   
Macro Strategy 20.59%
Banyan Capital Fund Ltd 4.19%
Blenheim Global Markets Fund Ltd 2.39%
BlueGold Global Fund Inc 1.26%
COMAC Global Macro Fund Ltd 4.28%
The Clive Fund Ltd 3.87%
Drake Global Opportunities Fund Ltd 0.39%
Goldfinch Capital Management Offshore Ltd 2.34%
Tudor BVI Global Fund Ltd 0.64%
Two Sigma Compass Enhanced Cayman Fund Ltd 1.23%
   
Equity Long Short Strategy 33.58%
Arrow Offshore Ltd 4.24%
BlackRock UK Emerging Companies Holding Fund Ltd 4.26%
Cavu Capital Offshore Fund Ltd 2.70%
Diamondback Offshore Fund Ltd 4.53%
HT Asian Catalyst Fund 4.34%
Hermitage Glob 0.04%
Meditor European Holdings Fund Ltd 4.18%
Potomac Capital International Ltd 0.33%
Scopus Fund Ltd 5.90%
Triskele China Fund 3.08%
   
Equity Long Bias Strategy 2.87%
Firebird Avrora Fund Ltd 0.79%
Firebird Global Fund Ltd 1.51%
Rig Fund III Ltd 0.56%
   
Equity Arbitrage Strategy 4.15%
Ivory Offshore Flagship Fund Ltd 4.15%
   
Event-Driven Strategy 12.14%
Omni Global Fund Ltd 4.17%
Paulson Advantage Plus Fund Ltd 3.46%
York European Opportunity Unit Trust 4.50%


 
   
Credit Strategy 14.74%
Alden Global Distribution Opportunities Fund (Cayman) LP 2.61%
CS Candlewood Special Situation Fund Ltd 2.42%
Cerberus Asia Partners LP 0.40%
Claren Road Credit Fund Ltd 3.33%
Marathon Special Opportunities Fund Ltd 1.39%
R3 Capital Partners Ltd 4.59%
   
Fixed-Income Strategy 4.19%
Capula Global Relative Value Fund Ltd 4.19%
   
Convertible Bond Strategies 8.23%
Aristeia International Ltd 4.16%
Lazard Rathmore Fund Ltd 4.07%
   
Multi Strategy 18.19%
Brevan Howard Fund Ltd 4.21%
Hayman Capital Offshore Partners LP 5.22%
Millennium International Ltd 4.29%
QVT Overseas Ltd 4.48%
   
Other Equity & Derivatives Strategies 1.16%
ESG Treasury Opportunities Offshore Portfolio Ltd 1.16%
   
Private Equity 1.54%
MPM Bio Ventures II 1.39%
Tudor Venture II Ltd 0.15%
   
ALTIN AG 5.26%
   
Others 0.77%
   
TOTAL 127.41%

ALTIN boosts Macro and Event Driven, adds 5 hedge fund managers
ALTIN’s highly liquid portfolio allows the investment manager to apply a dynamic portfolio management approach and to benefit from current investment opportunities. Taking advantage of this liquidity feature, the investment manager launched a significant investment programme in 2009. This was prolonged in the first quarter of 2010, during which several new underlying positions were opened in the portfolio.

Macro exposure grew to 20.59%, as the investment manager added three Macro funds that then subsequently closed to new investors. Similarly, the Event-driven strategies segment grew to 12.14%, as two new funds were added to this strategy allocation, reflecting the growing opportunity set available to managers active in this strategy. The portfolio’s largest strategy allocation, namely Equity Long/Short, remained relatively stable over the period and accounts for 33.58% of the portfolio. On 1 April 2010, the portfolio was running a leverage of 27%.

ALTIN currently favours liquid strategies and does so by investing in liquid hedge funds that are nimble and trading-oriented. Because of this focus on liquidity, ALTIN has been able to increase its leverage, which can be quickly reduced by selling a number of positions if required.

ALTIN’s investment strategy avoids liquidity risk and reflects ALTIN’s top-down view, which supports the economic recovery but is cognisant of important challenges such as sovereign debt risk. The portfolio is therefore positioned to participate in any upside the markets may offer while remaining prudently invested with liquid managers.

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 made possible thanks to the investment manager’s 15- year track record in managing fund of hedge funds and the extensive hedge fund research accumulated since inception. Corporate website: Source

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