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Altin AG (AIA)

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Thursday 14 April, 2016

Altin AG

Annual Financial Report

Annual Financial Report

Altin AG

ALTIN: 2015 Final Results and Annual Report

Invitation and agenda to the AGM

Link to enclosures

ALTIN – 2015 Annual Report

https://www.altin.ch/p/CNTP_675685_EN

ALTIN – Invitation and agenda to the AGM

https://www.altin.ch/p/CNTP_675285_EN

  • 2015 performance: +11.42%1 share price, +2.06%2 NAV performance
  • Strong relative outperformance (HFRX Index: -3.64%, HFRI FoF Index: -0.21%)
  • Share price to NAV Discount significantly reduced

Baar, 14 April 2016 – ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss alternative investment company listed on the London and Swiss stock exchanges, published its 2015 audited annual results today3. ALTIN delivered a positive 2015 performance in terms of share price increase (+11.42%) and of investment portfolio returns (+2.06%), outperforming both reference benchmarks: the HFRX and HFRI FoF indices were down -3.64% and -0.21% respectively. The discount to NAV ended the year at 14.64%, compared with 21.81% at the end of 2014 and continues to narrow to this day. Furthermore, ALTIN AG announces that Peter Altorfer will retire from his role as Director and Chairman following his decision not to stand for re-election as a member of the Board at the Company’s Annual General Meeting to be held on 9 May 2016. The invitation and agenda for the Annual General Meeting4 have now been issued and are available on the Company’s website at www.altin.ch.

2015 annual results

Generally speaking, 2015 was a mixed year for the hedge fund industry, with the HFRI Fund Weighted Composite Index posting its first negative year since 2011. In contrast to the average hedge fund, ALTIN’s portfolio performed positively. ALTIN’s Net Asset Value (NAV) finished the year up +2.06% in 2015, compared to the HFRX index and the HFRI FoF index, which recorded -3.64% and -0.21% respectively. Similarly to 2014, ALTIN’s portfolio turnover was relatively limited in 2015 as most of the sub-strategy allocation remained steady. The only tactical switch made was to rotate some of the equity long bias risk allocation in favour of equity market neutral managers.

The start of 2016 has remained challenging for markets and strategies. The ALTIN portfolio weathered the storm in January and its share price (SIX) has appreciated by a further +5.29% YTD as of 13 April 2016.

Reduced discount

As a result of the strong performance and of the different measures put in place by ALTIN’s Board of Directors, the share price (SIX) to NAV discount ended the year at 14.64%, compared with 21.81% at end 2014. The average discount for 2015 was 15.47%, compared with an average of 20.89% in 2014. Based on the latest figures, the current NAV/ share price discount stands at 7.61%5.

    ALTIN AG
NAV
  ALTIN AG
Share Price (SIX)
  HFRI FoF
Index
YTD as 29 February 2016 (latest available final figures) -1.57% +1.74% -3.88%
2015 +2.06% +11.42% -0.21%
Cumulative since Dec. 1996 +214.77% +190.77% +143.56%
Annualized since Dec. 1996 +6.19% +5.75% +4.78%

Peter Altorfer to retire from ALTIN AG’s Board of Directors

Annual General Meeting 2016

Peter Altorfer will retire from his role as Director and Chairman following his decision not to stand for re-election as a member of the Board at the Company’s Annual General Meeting to be held on 9 May 2016. The invitation and full agenda of the upcoming Annual General Meeting are available on the Company’s website at www.altin.ch (“About ALTIN” – “Reports & Publications” – “Other documents”).

For further information, please contact:

 

Tony Morrongiello – Chief Executive Officer

Tel. +41 (0)41 760 62 60

[email protected]

 

 

 

Media enquiries for Switzerland

Hirzel.Neef.Schmid. Konsulenten AG

Jürg Wildberger

Tel. +41 (0)79 351 10 24

[email protected]

 

 

 

 

 

 

 

 

Media enquiries for the United Kingdom

Kinlan Communications

David Hothersall

Tel. +44 (0)20 7638 3435

[email protected]

IMPORTANT NOTICE FOR THE MEDIA

ALTIN AG is an investment company that functions like a closed-end fund of funds. As a result, the analysis of its annual financial statements cannot be conducted in the same way as with most companies that produce goods or services (i.e. balance sheet, income statement, net profit, etc). In particular, the performance of the company cannot be accurately measured through the change in net profit, which does not reflect the portfolio's investment performance. The results of the company should thus preferably be assessed through the evolution of the NAV and the analysis of the investment portfolio, as found in the "Business activity" section of the annual report. A detailed list of the holdings is also available in Note 4 of the report.

In order to avoid any possible misinterpretation, please contact us if you have any questions regarding these results.

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

1 Based on SIX share price performance as at 31 December 2015

2 2015 audited NAV performance

3 The annual report is available on the company’s website www.altin.ch (“About ALTIN / Reports & Publication”, “Annual Report”) or by using the following link: https://www.altin.ch/p/CNTP_675685_EN

4 Link to the AGM invitation and agenda: https://www.altin.ch/p/CNTP_675285_EN

5 Based on SIX share price as 13 April 2016 and NAV estimate as 8 April 2016


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