Altin AG Holding(s) in Company
April 15 2013 - 11:30AM
UK Regulatory
TIDMAIA
ALTIN market review and portfolio holdings as of 1st April
2013
Baar, 15 April 2013 - ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss
alternative investment company listed on the London and Swiss stock
exchanges, today discloses its entire hedge fund portfolio holdings
as part of its policy of full transparency to investors. The
portfolio, featuring more than 30 underlying hedge funds and
representing over 10 investment strategies, is particularly well
diversified and has a NAV performance of +174.60%1 since its
inception in December 1996.
Portfolio as at 1st April 2013 Total Portfolio (%)
Global Macro Strategy 17.99%
AlphaMosaic SPC - SP 127 Episteme Capital 0.93%
Partners LLP Systematic Quest Fund 3X
LAMP Funds (Ire) 1 plc - LAMP Hayman Capital Fund 5.18%
Omni Macro Fund I Ltd 2.15%
Stone Milliner Macro Fund Inc 2.20%
The Tudor BVI Glob Fund Ltd 4.10%
Two Sigma Compass Enhanced Cayman Fund Ltd 3.43%
Commodity Trading Strategy 4.73%
AlphaMosaic SPC - SP 23 Rosetta 0.49%
- Composite Program 2.5X
Atreaus Overseas Fund, Ltd 1.83%
Goldfinch Capital Management Offshore, Ltd. 1.99%
LD Commodities Alpha 2X Fund Ltd 0.42%
Managed Futures Strategy 4.85%
AlphaMosaic SPC - SP 10 Welton 0.63%
Global Directional 2X
Bluetrend Fund Limited 1.82%
LAMP Funds (Ire) 1 plc - LAMP NuWave 1.01%
Combined Futures Master Fund
LAMP Funds (Ire) 1 plc - QIM Global Fund 0.95%
LAMP Funds (Ire) 1 plc - Welton Global 0.44%
Directional Portfolio GDP Master Fund
Equity Long/Short Strategy 14.97%
BlackRock UK Emerging Companies Hedge Fund Ltd 3.25%
Coatue Offshore Fund Ltd 4.57%
LAMP UCITS Funds (Ire) 2 plc 3.79%
- LAMP Visium Global Fund
Pinpoint China Fund 1.11%
Zeal China Fund Limited 2.25%
Equity Long Bias Strategy 6.20%
Arrow Offshore Ltd 3.91%
Golden China Fund 2.29%
Event-Driven Strategy 23.38%
LAMP Funds (Ire) 1 plc - LAMP JANA Partners Fund 6.79%
LAMP Funds (Ire) 1 plc - Marathon 6.88%
Opportunistic Credit Fund
Omni Global Fund Ltd 2.23%
R3 (C), Ltd. 3.55%
York European Opportunities Unit Trust 3.93%
Credit Long/Short Strategy 2.76%
Claren Road Credit Fund Ltd 2.76%
Convertible Bond Strategy 11.16%
Aristeia International Ltd 5.29%
LAMP Funds (Ire) 3 plc - Lazard 5.87%
Rathmore Multi-Strategy Fund
Equity Market Neutral Strategy 5.78%
Atlas Leveraged Fund Ltd 2.64%
ZLP Offshore Utility Fund Ltd 3.14%
Interest Rate Strategy 6.85%
EMF Fixed Income Fund Ltd 3.08%
Providence MBS Offshore Fund Ltd 3.77%
Volatility Strategy 1.90%
Two Sigma Horizon Cayman Fund, Ltd. 1.90%
Protection Strategies 2.94%
LAMP Funds (Ire) 1 plc - Capstone Convexity Fund 2.33%
LAMP Funds (Ire) 1 plc - LAMP Conquest 0.61%
Customised Macro Master Fund
Multi-Strategy Funds 12.36%
Brevan Howard Fund Ltd 1.02%
Millennium International Ltd 4.62%
Stratus Feeder Ltd 1.5 Leverage 4.16%
The Segantii Asia-Pacific Equity 2.56%
Multi-Strategy Fund
Private Equity 0.77%
MPM Bio Ventures II 0.77%
ALTIN AG 3.84%
Others 2.31%
Total 122.8%
ALTIN: Q1 2013 commentary
The first quarter of the year was overall positive for hedge
funds. Appetite for risk continued to dominate markets and led to
good returns for risky assets, especially in the US, where the
economic recovery seems sustainable and where good liquidity
prevails. In Europe the situation improved, but markets remained
nervous around specific events, such as the inconclusive Italian
elections or the Cyprus bailout negotiations. Japan has also come
back into the picture with the appointment of the new governor of
the Bank of Japan and its willingness to depart drastically from
former policies, providing a dramatic boost to equity markets. On
the emerging market front the situation is more difficult as policy
tightening is keeping investors on guard. Generally speaking
correlations went down and markets are re-focussing on
idiosyncrasies. As expected a few months ago, the decrease in
tail-risk due to the sovereign debt crisis in Europe and the
improvement of market dynamics led managers to take more risk and
therefore to enhance returns. Positive performances came both from
directional long risk exposures and from relative value trades as
well as specific events.
Recognising the improved environment, ALTIN will keep on
re-risking its portfolio and moving down the liquidity curve. ALTIN
will be increasing its allocation to aggressive managers across
strategies and overweight the allocation to Event Driven and Credit
managers with a bias to Europe. Investment opportunities remain
plentiful, especially where banks are reducing activity, even if
these opportunities are not broad-based or easily accessible to
everyone. It therefore remains key to identify the precise
strategies and specific managers who have the right skills,
resources, experience and AUM size to implement them
successfully.
Top contributors YTD as 31.03.2013 (estimated data)
-- Two Sigma Compass Enhanced Cayman Fund, Ltd. +0.53%
-- LAMP Funds (Ire) 1 plc - LAMP JANA Partners Fund +0.50%
-- LAMP Funds (Ire) 1 plc - Marathon Opportunistic Credit Fund +0.49%
Top detractors YTD as 31.03.2013 (estimated data)
-- LAMP Funds (Ire) 1 plc - LAMP Conquest Cust. Macro 2X -0.22%
-- LAMP Funds (Ire) 1 plc - QIM Global Fund 3X -0.20%
-- Zeal China Fund Limited -0.14%
ALTIN: Continuing to gradually move down the liquidity curve
The improvement in market dynamics and the reduction of
tail-risk, coupled with a very appealing opportunity set, means
that ALTIN is continuing to take advantage of its stable capital
base and invest in less liquid strategies with higher expected
returns. This allocation shift continues to be implemented
gradually.
ALTIN: not affected by redemption issues
ALTIN is a closed-ended and fixed capital fund and as such it is
not faced with redemption requests. This provides the investment
manager with the opportunity to select the best risk/reward
opportunities in the hedge fund universe. Investors can freely buy
and sell ALTIN shares on a daily basis on the London or Swiss stock
exchanges, without the need to redeem at fixed redemption
dates.
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 Estimated NAV performance as at 31 March 2013
This information is provided by Business Wire
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