Altin AG Directorate Change

 
TIDMAIA 
 
 

ALTIN - Appointment of Tony Morrongiello as CEO of ALTIN AG

Baar, 19 March 2013 - ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss alternative investment company listed on the London and Swiss stock exchanges, has today announced the appointment of Tony Morrongiello to the position of CEO of the company. Tony Morrongiello takes up his duties today and will be in charge of managing ALTIN's day-to-day operations and maximising its shareholder value.

An acknowledged figure at the helm of ALTIN

Tony Morrongiello, who was born in 1959, is a highly respected figure in the alternative management industry, with more than fifteen years' experience of managing funds of hedge funds in Switzerland, Europe and Asia. He has managed or advised a number of alternative investment companies and has founded Caliburn Capital Partners, a company which managed funds of theme funds in London, Geneva and Singapore. Finally, he also sits on various committees and boards of directors of funds of hedge funds. Mr. Morrongiello's main objective will be to enhance awareness of ALTIN in the Swiss and European markets. In his capacity of CEO, he will supervise the company's operations, be it the investments made by the fund manager, ALTIN's operational management or investor relations. He is replacing Mr. Eric Syz, who performed these duties in his capacity as Delegate and who will continue to sit on the Board of Directors.

ALTIN: Towards a return to the roots of the alternative investment company

Even though, since the appearance of new alternative investment solutions - like funds of UCITS funds or managed accounts platforms - the form of the listed investment company is today attracting investors less than it did a few years ago, this structure nevertheless affords many advantages. The first is probably its stock-exchange listing, which enables investors to buy and sell daily, backed by the security of the highly regulated framework of the Swiss Stock Exchange (SIX) and the London Stock Exchange (LSE).

Another, more fundamental asset is the fact that, as an investment company with a fixed capital, ALTIN does not have to deal with redemption requests. This special feature enables the fund manager to select the best opportunities in terms of risk/return in the hedge funds universe, without being constrained by having to take account of subscriptions or redemptions.

In fact, thanks to the improvement in the market dynamic, to the reduction of extreme risks (tail-risk) and to some very fine opportunities, ALTIN decided a few months ago to begin to take advantage of its stable capitalisation to invest in strategies that are less liquid but offer the prospect of higher returns. The gradual implementation of this change of allocation has already begun. More specifically, exposure to protection strategies has been reduced and overall exposure has been increased, as is underscored by the level of leverage, which currently stands at 121%1.

For further information, please contact:

 
José Galeano - Head Investor Relations Manager   Kinlan Communications 
Marc T. Clapasson - Investor Relations Manager   David Hothersall 
Tel. [phone]                            Tel. [phone] 
[e-mail]                                    [e-mail] 
 
 

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 30 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.

ALTIN is managed by Alternative Asset Advisors SA, a management firm specializing in alternative investments and a member of the SYZ & CO Group.

www.altin.ch

1 Figure at January 31, 2013

 
 
This information is provided by Business Wire