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Altin AG (AIA)

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Friday 29 August, 2014

Altin AG

Half-yearly Report

Half-yearly Report

Altin AG

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 data

as 31 July 2014

     

ALTIN AG1
(NAV)

     

HFRI FoF Composite
index

     

MSCI World
Hedged index

YTD       +3.43%       +1.53%       +3.36%
1st half-year 2014 +3.30% +2.04% +4.25%
Cumulative since December 1996 +201.90% +139.71% +109.39%
Annualized since December 1996 +6.45% +5.07% +4.27%
 
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

Tel. +41 (0)41 760 62 60

[email protected]

     

Kinlan Communications

David Hothersall

Tel. +44 (0)20 7638 3435

[email protected]

 

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.


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