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Precy Dumlao, Opalesque Asia:

Swiss alternative firm ALTIN,a $250m multi-strategy fund of hedge funds listed on the London and Swiss stock exchanges, said it gained 4.02% in the first half of the year (+4.61% YTD) as underlying managers took advantage of the various trading opportunities in the markets and navigated through periods of high volatility by protecting their portfolios.

ALTIN CEP Tony Morrongiello commented, "The diversification across multiple strategies and managers proved attractive once again; furthermore there is a strong commitment to finding new talents and allocating capital to more risk-seeking strategies as well as niche investments with longer-term investment horizons and higher expected returns.

Comparatively, the HFRI FoF Composite Index which gained+4.52% during the same period (+3.44% YTD), while the MSCI World Hedged index outperformed with +15.36% earnings (+10.22% YTD).

Last June, Morrongiello announced that ALTIN was evaluating different options to implement the share buyback program to acquire up to 10% of the share capital. The buyback program was announced in March this year.

"Indeed, a revision of the Stock Exchange Ordinance (SESTO) that has come into force on 1st May 2013 limits daily share buybacks to 25% of the average daily volume without granti......................

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