Fund Of Funds Castle Alternatives Launches Second Buyback Program

Jun 25 2012 | 1:45pm ET

Listed fund of hedge funds Castle Alternatives Invest plans to buy back up to 10% of its shares in an effort to cut its discount to net asset value.

The fund, managed by LGT Capital Partners, is listed on both the SIX Swiss Exchange and the London Stock Exchange. The share buyback, authorized at last month's annual meeting, will run from Thursday through June 5, 2013. Castle Hall was also authorized to cancel the 1.1 million shares it repurchased in its last share buyback plan.

"The board of Castle AI believes in an active approach to managing the discount to net asset value and has implemented this program to support the price at which shares trade in the secondary market," Mark White, co-head of listed investment companies at LGT, said. "The company has a long track record of delivering positive returns, proving an effective investment vehicle for investors wishing to enhance their portfolio diversification. The second trading line should help to tighten the discount, and should result in a share price which better reflects the value of the company and the quality of its underlying investments."


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR