TIDMAIA

ALTIN market review and portfolio holdings as 1st April 2012

Baar, 23 April 2012 - 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 35 underlying hedge funds and representing over 10 investment strategies, is particularly well diversified and has a NAV performance of +166.10%1 since its inception in December 1996.

 
Portfolio as at 1stApril 2012                      Total Portfolio (%) 
Macro Strategy                                     24.29% 
AlphaMosaic SP127 Episteme Cap Ptr                 1.30% 
LLP Systematic Quest Fund 3X 
Banyan Capital Fund Ltd                            4.00% 
Blenheim Global Markets Fund Ltd                   3.02% 
Comac Global Macro Fund Ltd                        3.59% 
Goldfinch Capital Management Offshore Ltd          3.01% 
LD Commodities Alpha Fund Ltd                      1.49% 
The Clive Fund Ltd                                 5.19% 
Two Sigma Compass Enhanced Cayman Fund Ltd         2.69% 
Equity Long Bias Strategy                          1.61% 
Firebird Global Fund Ltd                           1.61% 
Managed Futures Strategy                           2.07% 
AlphaMosaic SP10 Welton Global Directional 2X      0.70% 
AlphaMosaic SP73 Blackwater Capital                0.64% 
Management LLC Glob Progr 2X 
Vegasoul 2X Fund Ltd                               0.73% 
Credit Strategy                                    8.47% 
Claren Road Credit Fund Ltd                        3.70% 
Marathon Special Opportunities Fund Ltd            0.65% 
R3 Capital Partners Ltd                            4.12% 
Convertible Bond Strategy                          5.01% 
Lazard Rathmore Fund Ltd                           5.01% 
Equity Long/Short Strategy                         24.05% 
7H Absolute                                        3.09% 
Arrow Offshore Ltd                                 4.96% 
BlackRock UK Emerging Companies Holding Fund Ltd   5.46% 
Coatue Offshore Fund Ltd                           3.93% 
Scopus Fund Ltd                                    4.30% 
Scopus Vista Fund Ltd                              2.31% 
Interest Rate Strategy                             4.83% 
Providence MBS Offshore Fund Ltd                   4.83% 
Protection Strategies                              5.51% 
LAMP Capstone Convexity Fund                       5.02% 
LAMP Conquest Customised Macro Master Fund 2X      0.49% 
Equity Market Neutral Strategy                     3.91% 
ZLP Offshore Utility Fund Ltd                      3.91% 
Event-Driven Strategy                              3.25% 
Omni Global Fund Ltd                               3.25% 
Multi-Strategy Funds                               16.49% 
Brevan Howard Fund Ltd                             2.51% 
Hayman Capital Offshore Partners LP                6.06% 
Millennium International Ltd                       5.44% 
QVT Overseas Ltd                                   2.48% 
Private Equity                                     0.56% 
MPM Bio Ventures II                                0.56% 
ALTIN AG                                           3.82% 
Others                                             1.82% 
TOTAL                                              105.7%

ALTIN: Q1 2012 commentary

After a year end in 2011 marked by the escalation of tensions in Europe, the first quarter of 2012 was an opportunity for a strong rebound of "risky" assets. The massive injections of liquidity by the European Central Bank have allayed the short-term concerns about the European financial sector. The continued growth of the US economy and the stabilisation of activity in emerging economies has, for the most part, helped to reassure investors on the outlook for global growth. The portfolio fared well over this period. The portfolio continued to reduce leverage, which fell from 115% to 105.7% over the first quarter 2012. It remains well diversified both on a strategy and geographical level, as well as liquid.

The majority of the change in leverage stemmed from a reduction in the Event Driven silo, from 11.76% to 3.25%. This reduction was partially due to poor performance and the removal of one manager, Paulson Advantage Plus Fund Ltd, and on the other hand, an anticipated rotation to another fund managed by the same manager, Jana Offshore Partners Ltd. The Macro silo was reduced from 25.92% to 24.29% as one manager was redeemed. The Managed Futures silo was also reduced from 2.97% to 2.07%. A new Protection Strategy was implemented over the period and LAMP Capstone Convexity Fund and LAMP Conquest Customised Macro Master Fund 2X now sit under this new classification. The allocation to this strategy is 5.51%.

Top contributors YTD as 31.03.2012 (estimated data)

 
 
    -- Arrow Offshore Ltd +0.6% 
 
    -- Scopus Fund Ltd +0.6% 
 
    -- Jana Offshore Partners Ltd +0.5% 
 
    -- Scopus Vista Fund Ltd +0.4% 
 
    -- Coatue Offshore Fund Ltd +0.4%

Top detractors YTD as 31.03.2012 (estimated data)

 
 
    -- LAMP Capstone Convexity Fund -0.4% 
 
    -- LAMP Conquest Customised Macro Master Fund 2X -0.2% 
 
    -- Comac Global Macro Fund -0.2%

ALTIN: high level of liquidity allows for investment flexibility

ALTIN's portfolio continues to have a majority of investments with a redemption frequency term of 3 months or less. This high level of liquidity means ALTIN is in a strong position to take advantage of attractive opportunities when they arise. Exposure to a particular investment theme can also be increased via the level of leverage allowed. This high level of flexibility means the portfolio can be reorganized in a nimble way if required and dependent on market opportunities and threats.

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.

For further information, please contact:

 
Investor Relations Manager   Kinlan Communications 
Marc T. Clapasson            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 35 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 2012
Grafico Azioni Altin Reg (LSE:AIA)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Altin Reg
Grafico Azioni Altin Reg (LSE:AIA)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Altin Reg