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Komfie Manalo, Opalesque Asia: Swiss alternative investment firm ALTIN AG, the $250m multi-strategy fund of hedge funds listed on the London and Swiss stock exchanges, a positive return over the last quarter of the year, ending 2014 up +5.75%, clearly outperforming the HFRI index (+3.19%) and significantly ahead of hedge fund and fund of hedge fund indices. Arguably, the most important macro development during the quarter was the continuing and accelerating trend in the collapse of oil prices, which led to bouts of volatility and a re-pricing of several assets.
ALTIN share price was up +8.60% and +10.20% on the Swiss (SIX) and London (LSE) exchanges respectively in 2014. Thanks to the permanent capital base provided by its structure, the ALTIN portfolio can be allocated to funds that require a slightly longer lock-up but offer potentially higher returns, without incurring any liquidity mismatch.
The portfolio remains highly liquid, with 62.2% of assets invested in funds with monthly or better liquidity, allowing the manager to make allocation shifts when deemed necessary. The fund of hedge funds has a NAV performance of +208.70% since its inception in December 1996.
ALTIN told its investors, "For hedge funds, the quarter actually started on a difficult note, with three distinct and unrelated events leading to losses across virtually all strategies, before some of them recovered. First of all, on the first day o...................... To view our full article Click here
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