Friday, 5 February 2016
Last updated 25 min ago
Jan 17 2007 | 9:57am ET
Swiss-based Altin AG, the alternative investment company listed in London and Switzerland, celebrated its 10th year last month in a big way: The fund of funds manager ended 2006 up 20.24%.
The firm, which attributes its performance to a “strong core of blue chip hedge funds with a group of smaller, niche managers,” said it “widely outperformed” other funds of funds in 2006. “We have thus delivered a 20.24% performance, double the result of the HFR Fund of Funds Composite Index (10.33%), which represents funds of hedge funds’ average performance,” said José Galeano, head of research and management at 3A SA, Altin AG’s investment manager.
“With an annualized return of 10.10%, a tightly controlled volatility and a low correlation to the main stock markets, Altin is a very interesting and attractive longer term investment, notably as a diversification tool for any type of portfolio.”
As of the end of December 2006, Altin’s portfolio was invested in 36 different funds representing 8 investment strategies. Almost half of the firm’s portfolio was allocated to long/short equity managers and a quarter to global macro managers. Over 60% of its assets are invested in funds that are now closed to new investors, according to the firm.
As well, Altin’s share price rose 24% in 2006, surpassing the NAV increase and thus leading to a reduction in the discount of the share price to the NAV, which at end December stood at 5.27%.
3A is the investment manager for a number of funds of hedge funds and manages a number of alternative products available to institutional investors. The firm managed $2.5 billion in hedge fund assets at the end of last year and provided research and due diligence services on a further $3.8 billion in alternative investments.