Altin AG Half-yearly Report
30 August 2014 - 2:30AM
UK Regulatory
TIDMAIA
ALTIN: 2014 Half year results
Baar, 29 August 2014 - ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss
alternative investment company, has today published its half year
results as at 30 June, 2014. The half year report is available on
the company's web site at the following address:
https://www.altin.ch/about-altin/publications/index.htm.
The ALTIN portfolio generated positive returns over the first
half of 2014. The period was characterised by a strong and somewhat
renewed appetite for yield, a forceful rotation from
growth/momentum-driven stocks to value stocks and by heightened
geopolitical risk emanating from Russia, Ukraine and the Middle
East. Overall the first semester of 2014 was positive for most
asset classes. As expected corporate activity has been strong,
providing a broad range of opportunities for managers within
ALTIN's Event Driven allocation, which was the best contributing
silo for the period. The Equity Hedge allocation (Market Neutral,
Variable Bias and Long Bias) proved resilient throughout the sector
rotation thanks to a good level of diversification in terms of
investment styles. On the other hand, Discretionary Macro funds
generated negative returns on average as they were caught
wrong-footed with mainly pro-cyclical trades. However, regarding
the Macro space it is worth noting that the best contributor to
ALTIN's portfolio was a Systematic Macro fund and that the
Commodity Trading silo contributed strongly to the year-to-date
performance despite its relatively small weighting. Finally, the
environment remained difficult for managers in the Credit and Fixed
Income space as their short spread and long volatility positioning
has not paid off so far but will provide very good upside if credit
markets finally correct.
Performance ALTIN AG1(NAV) HFRI MSCI World Hedged
data FoF Composite index
as 31 July index
2014
YTD +3.43% +1.53% +3.36%
1st half-year +3.30% +2.04% +4.25%
2014
Cumulative +201.90% +139.71% +109.39%
since
December 1996
Annualized +6.45% +5.07% +4.27%
since
December 1996
Allocation per strategy at 30 June 2014 As a % of total assets2
Event Driven 29.2%
Global Macro 19.9%
Equity Long Short 18.2%
Multi Strategy 13.4%
Equity Market Neutral 11.4%
Equity Long Bias 9.0%
Commodity Trading 7.4%
ALTIN AG 4.9%
Credit Long Short 3.9%
Interest Rate 3.8%
Managed Futures 2.1%
Volatility Strategies 2.0%
Special Investments 1.3%
Protection Strategies 1.0%
Private Equity 0.4%
For further information, please contact:
Tony Morrongiello - Chief Executive Officer Kinlan Communications
Tel. +41 (0)41 760 62 60 David Hothersall
info@altin.ch Tel. +44 (0)20 7638 3435
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 40 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.
www.altin.ch
ALTIN AG's semi-annual report as 30.06.2014 (unaudited):
https://www.altin.ch/n/CNTP_492880_EN
1 ALTIN's performance data provided above is based on the NAV as
at 31 July 2014 (final).
2 ALTIN's gross exposure stands at 127.90% as at 30 June
2014.
This information is provided by Business Wire
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