Altin AG Directorate Change
March 19 2013 - 12:30PM
UK Regulatory
TIDMAIA
ALTIN - Appointment of Tony Morrongiello as CEO of ALTIN AG
Baar, 19 March 2013 - ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss
alternative investment company listed on the London and Swiss stock
exchanges, has today announced the appointment of Tony Morrongiello
to the position of CEO of the company. Tony Morrongiello takes up
his duties today and will be in charge of managing ALTIN's
day-to-day operations and maximising its shareholder value.
An acknowledged figure at the helm of ALTIN
Tony Morrongiello, who was born in 1959, is a highly respected
figure in the alternative management industry, with more than
fifteen years' experience of managing funds of hedge funds in
Switzerland, Europe and Asia. He has managed or advised a number of
alternative investment companies and has founded Caliburn Capital
Partners, a company which managed funds of theme funds in London,
Geneva and Singapore. Finally, he also sits on various committees
and boards of directors of funds of hedge funds. Mr. Morrongiello's
main objective will be to enhance awareness of ALTIN in the Swiss
and European markets. In his capacity of CEO, he will supervise the
company's operations, be it the investments made by the fund
manager, ALTIN's operational management or investor relations. He
is replacing Mr. Eric Syz, who performed these duties in his
capacity as Delegate and who will continue to sit on the Board of
Directors.
ALTIN: Towards a return to the roots of the alternative
investment company
Even though, since the appearance of new alternative investment
solutions - like funds of UCITS funds or managed accounts platforms
- the form of the listed investment company is today attracting
investors less than it did a few years ago, this structure
nevertheless affords many advantages. The first is probably its
stock-exchange listing, which enables investors to buy and sell
daily, backed by the security of the highly regulated framework of
the Swiss Stock Exchange (SIX) and the London Stock Exchange
(LSE).
Another, more fundamental asset is the fact that, as an
investment company with a fixed capital, ALTIN does not have to
deal with redemption requests. This special feature enables the
fund manager to select the best opportunities in terms of
risk/return in the hedge funds universe, without being constrained
by having to take account of subscriptions or redemptions.
In fact, thanks to the improvement in the market dynamic, to the
reduction of extreme risks (tail-risk) and to some very fine
opportunities, ALTIN decided a few months ago to begin to take
advantage of its stable capitalisation to invest in strategies that
are less liquid but offer the prospect of higher returns. The
gradual implementation of this change of allocation has already
begun. More specifically, exposure to protection strategies has
been reduced and overall exposure has been increased, as is
underscored by the level of leverage, which currently stands at
121%1.
For further information, please contact:
José Galeano - Head Investor Relations Manager Kinlan Communications
Marc T. Clapasson - Investor Relations Manager David Hothersall
Tel. +41 41 760 62 60 Tel. +44 (0)20 7638 3435
info@altin.ch davidh@kinlan.net
Note to Editors
About ALTIN AG
ALTIN AG was launched in 1996 and is listed on the SIX Swiss
Exchange as well as on the London Stock Exchange. It ranks among
Switzerland's leading alternative investment companies. Currently,
ALTIN is invested in more than 30 hedge funds representing diverse
investment strategies. Its objective is to generate an absolute
compound annual return in USD terms with lower volatility than
equity markets. Owing to these characteristics and a low
correlation with equity markets, ALTIN shares provide an ideal
complement for all diversified portfolios.
ALTIN is managed by Alternative Asset Advisors SA, a management
firm specializing in alternative investments and a member of the
SYZ & CO Group.
www.altin.ch
1 Figure at January 31, 2013
This information is provided by Business Wire
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