|It's not often you get a bid offer below cash!
That just about sums up the continual value destruction at this company.|
|Massively illiquid and any buys will jump it up. Worth remembering that everyone ie board, Winton and IKOS payed/were payed at way above current price. So either they've written off the money or they expect to gain in a big way by Bertarelli diluting them down.|
|Hadn't realised how hardcore the Bertarelli family are:-
|Interesting rns - big dilution but new owners are big league. Effectively rebased for a new start?
Alpha Strategic plc, the AIM listed hedge fund investment group, is pleased to announce that it has conditionally raised approximately GBP2,493,722.61 (before expenses) by way of a placing (the "Placing") to Northill Europe Holdings SARL ("Northill") of 4,705,137 ordinary shares of 1 pence each (the "Ordinary Shares") in the capital of Alpha Strategic (the "Placing Shares") at a price of 53.0 pence per Ordinary Share (the "Placing Price"). Northill is a private company incorporated in Luxembourg whose sole shareholder is Northill Jersey Holdings L.P. The ultimate majority owner of Northill is the Bertarelli family.
This investment by Northill represents a significant step forward for Alpha Strategic, which specialises in acquiring multiple revenue streams from a diverse range of key alternative investment strategies, managed by experienced hedge fund managers. Alpha Strategic has existing agreements with Winton Capital Management Limited and IKOS Asset Management Limited. The additional funds from Northill will be used to support and accelerate Alpha Strategic's strategy of acquiring additional, non-correlated revenue streams, which will in turn serve to expand and diversify Alpha Strategic's income base. The directors of Alpha Strategic continue to actively market Alpha Strategic's business model and discussions are, both early stage and advanced stage are ongoing...
|Up under 5% in last 12 months. disapointing|
|0.5% Management fee on $45.5m = %227,500 = £151,000 towards £475,000 Admin expenses. ESA Global Futures Fund is up 40% since start,and appears to be up over 20% in last 12 months Perhaps this is over the high water mark and will generate a performance fee ? 10% of the ?$4m above a ?10% watermark would be nice.|
|Also nice to see that Global Future is doing ok in the current environment. Up 4% for the week and now back at record high NAV. Should help in the marketing effort especially with most other hedge fund strategies struggling in the current environment. Not sure about the future strategy of the company though. Can't see too many new deals on the horizon.|
19 October 2007
Global Futures Fund Gains Approval In Switzerland
Alpha Strategic plc ("Alpha" or "the Company") is pleased to announce that the
ESA Global Futures Fund ("the Fund") has received approval under proviso from
the Swiss financial regulator. Following execution of agreed amendments to the
Fund's marketing documentation the Fund can be fully marketed and distributed in Switzerland.
In May 2006, Alpha acquired Winton Advisers Limited (now renamed Alpha Winton
Limited "AWL") from Winton Capital Management Limited ("Winton Capital"), the
$10bn London hedge fund manager. AWL is entitled to 50% of the management and
performance fees on the ESA Global Futures Fund, a Luxembourg based fund aimed
at the Swiss institutional market, payable quarterly. The Fund is managed by
Winton Capital and is being charged an annual management fee of 1% of net assets and an annual performance fee of 20% of the increase in the net asset value subject to a high water mark.
Since May 2006, without marketing, funds under management have grown from $11.5
million to $45.5 million and return on the Fund since inception (March 2006) has been 16.47%.
Colin Barrow, Chairman of Alpha commented:
"This is another step forward for Alpha. We believe that the expansion of
marketing combined with Winton's highly respected and successful investment
process will significantly increase funds under management towards the initial
target of $100 million."|
|AFS have done ok during recent turbulence. The fund is up about 8% in euro terms since launch. Volatility has been pretty low as well which will help quell redemptions. We need further news on new deals to get this one going. Hopefully we might get some news with next set of results.|
|"Winton Advisors Limited is entitled to 50% of the management and incentive fees
generated from The ESA Global Futures Fund in exchange for certain advisory
services. This equates to approximately 0.5% of funds under management and 10%
of profits, subject to a number of performance conditions."
On $40m thats £100,000pa contribution to Admin expenses of £475,000. Hopefully growing to £250,000pa before anything from the profit share part.|
|agree nick, it's slightly worrying that it's taking so long, as once up and running fully it acts as a showcase for idea. still, we ain't going to run out of money and as you say collin barrow sounds upbeat enough. i will make some enquiries.|
|I had expected profitability by now, but they seem to have issues with getting the marketing approval. That will come soon enough hopefully. What will finally get us moving is another hedge fund signing on the dotted line. Colin Barrow seemed pretty bullish about getting them on board so lets hope the wait isn't too long.|
|>Rambutan.These are the companies I like.I picked up a small holding (25k) a few months ago and will accumulate on news!|
|slowly does it...
Alpha Strategic plc ("Alpha Strategic" or the "Company")
Audited Preliminary Results for the year to 31 March 2007
*First acquisition, of Winton Advisors, completed.
*First income received.
*Global Futures Fund grows over 300% to over $41m.
*Net assets up 6%.
*Loss per share halved, significant progress towards profitability.
*Healthy cash balance maintained at #2.3 million.
Colin Barrow, Chairman of the Company, commented: " Alpha has made a good start. Our first transaction is of undisputed quality, and a firm foundation for the future. "
|A good week for EGF with the NAV up 1% or about 12.3% since inception.|
|As promised the weekly performance of EGF is +0.12%.|
|nick, that would be v welcome.|
|Just to liven the board up and keep it more active Im going to post weekly NAV figures for its Hedge fund. This weeks figure is 1111.35 for its euro denominated fund. Thats up 1% for the week and up 11.1% since its inception in May last year.|
|as far as i can see, they topped up at 125p (100k k trade), with the seller/s (2x50k) getting 118p...
8 January 2007
Alpha Strategic Plc ("Alpha Strategic" or "the Company")
Holdings in Company
Alpha Strategic was notified today that following the purchase of 100,000
ordinary shares of 1 pence each in the Company ("Ordinary Shares") on 19
December 2006, Auvergne & Bourgogne have an interest in 300,000 Ordinary Shares
representing approximately 9.07 per cent. of the issued ordinary share capital.|
|this lot (see post 8) have doubled up at between 118-125p. i wonder who's been selling?
Alpha Strategic was notified on 22 December 2006 that following the purchase of
100,000 ordinary shares of 1 pence each in the Company ('Ordinary Shares') on 14 December 2006, Auvergne & Bourgogne have an interest in 200,000 Ordinary Shares representing approximately 6.04 per cent. of the issued ordinary share capital.
|Interim Results for the 6 months ended 30th September 2006
* First acquisition of Winton Advisors completed.
* First income received.
* Strong growth in funds under management up 300% since acquisition.
* Net assets up 8%.
* Loss per share held at previous low levels.
* Healthy cash balance maintained at #2.4 million.
* Forecast to turn cash generative in first half 2007.
To obtain a copy of this report, and for comprehensive information on the
Company and its directors, please visit our website at:
The past six months have been an exciting time for the Company. Our first
acquisition took longer than many expected, but this was a result of our stated
aim of partnering only with managers of the very highest quality. Alpha's
objective is to achieve a blend of income from managers using different
strategies, but it is a prerequisite that they are first class at what they do.
We completed our first transaction with Winton Capital Management Limited in May through the acquisition of Winton Advisors Limited. This has provided us with a strong foundation for future transactions. These accounts show the first fruits of that acquisition
Fee income has now started to flow from the Global Futures Fund and we believe
it will grow rapidly over the coming months. We continue to await approval from
the regulators for more public distribution of the fund in Switzerland. However, I note that despite the current limits on marketing, assets in the fund have grown from $11.5 million to over $34 million since we completed the transaction. Additionally the manager has shown solid performance during the period and we believe it is likely we should receive more incentive fees in the second half.
We continue to pursue a number of promising conversations with other high
quality hedge fund managers.
The Company has successfully contained costs during the period and has maximized its income from our healthy cash balances.
There has been much talk about M&A in the industry over the last year, however
few transactions have materialised, and even fewer involving public companies.
Alpha has a unique business model that has been carefully designed to address
issues for hedge fund managers while building stable revenue for shareholders.
We have been very encouraged by our progress in the last six months. With the
growth in funds under management combined with continuing performance levels
from Winton, we anticipate being able to report that we have become cash
generative in the first half of 2007.
Colin Barrow, Chairman.
14th December 2006
|so, perhaps that at least part of the recent rise. for the record, they bought them at 110p ie right on the offer, on 27/09/06. there was a 95k deal at 109p on same day, so perhaps that the seller, although bid price was 105p...
Alpha Strategic was notified on 6 October 2006, that following the purchase of
100,000 ordinary shares of 1 pence each in the Company ('Ordinary Shares') on 27
September 2006, Auvergne & Bourgogne have an interest in 100,000 Ordinary Shares representing approximately 3.02 per cent. of the issued ordinary share capital.
haven't a clue who it/they are though.|