Altin AG Holding(s) in Company

 
TIDMAIA 
 
 

ALTIN market review and portfolio holdings as of 1st October 2012

Baar, 17 October 2012 - ALTIN AG (SIX: ALTN, LSE: AIA), the Swiss alternative investment company listed on the London and Swiss stock exchanges, today discloses its entire hedge fund portfolio holdings as part of its policy of full transparency to investors. The portfolio, featuring more than 30 underlying hedge funds and representing over 10 investment strategies, is particularly well diversified and has a NAV performance of +164.83%1 since its inception in December 1996.

 
Portfolio as at 1st October 2012                    Total Portfolio (%) 
Macro Strategy                                      17.13% 
AlphaMosaic SPC - SP 127 Episteme Capital           1.43% 
Partners LLP Systematic  Quest Fund 3X 
Comac Global Macro Fund Ltd                         3.79% 
Goldfinch Capital Management Offshore Ltd           2.98% 
LD Commodities Alpha Fund Ltd                       1.70% 
The Clive Fund Ltd                                  3.80% 
Two Sigma Compass Enhanced Cayman Fund Ltd          3.43% 
Managed Futures Strategy                            1.29% 
AlphaMosaic SPC - SP 10 Welton                      0.72% 
Global Directional 2X 
AlphaMosaic SPC - SP 73 Blackwater Capital          0.57% 
Management LLC Global  Program 2X 
Credit Strategy                                     13.84% 
Claren Road Credit Fund Ltd                         3.99% 
LAMP Funds (Ire) 1 plc - Marathon                   6.06% 
Opportunistic Credit Fund 
Marathon Special Opportunities Fund Ltd             0.64% 
R3 (C), Ltd                                         3.15% 
Convertible Bond Strategy                           9.38% 
Aristeia International Ltd                          3.34% 
LAMP Funds (Ire) 3 plc - Lazard                     6.04% 
Rathmore Multi-Strategy Fund 
Equity Long/Short Strategy                          30.64% 
Arrow Offshore Ltd                                  7.09% 
BlackRock UK Emerging Companies Hedge Fund Ltd      4.78% 
Coatue Offshore Fund Ltd                            4.57% 
Scopus Fund Ltd                                     4.51% 
Scopus Vista Fund Ltd                               2.51% 
Sprott Offshore Fund Ltd                            3.26% 
LAMP UCITS Funds (Ire) 2 plc                        3.92% 
- LAMP Visium Global Fund 
Interest Rate Strategy                              8.92% 
EMF Fixed Income Fund Ltd                           3.30% 
Providence MBS Offshore Fund Ltd                    5.62% 
Protection Strategies                               4.47% 
LAMP Funds (Ire) 1 plc - Capstone Convexity Fund    4.47% 
Equity Market Neutral Strategy                      4.03% 
ZLP Offshore Utility Fund Ltd                       4.03% 
Event-Driven Strategy                               11.50% 
LAMP Funds (Ire) 1 plc - LAMP JANA Partners Fund    7.97% 
Omni Global Fund Ltd                                3.53% 
Multi-Strategy Funds                                13.24% 
Brevan Howard Fund Ltd                              1.36% 
Millennium International Ltd                        4.45% 
QVT Overseas Liquidating Ltd                        1.45% 
LAMP Funds (Ire) 1 plc - LAMP Hayman Capital Fund   5.98% 
Private Equity                                      0.66% 
MPM Bio Ventures II                                 0.66% 
ALTIN AG                                            3.60% 
Others                                              1.69% 
Total                                               120.4% 
 
 

ALTIN: Q3 2012 commentary

During the third quarter of 2012 markets experienced a new phase of risk taking. Equity markets rose overall, and yields came down as investors went on a new buying spree. The main cause for this new 'risk on' environment was essentially the anticipation of another round of quantitative easing on both sides of the Atlantic. The message came out more or less as expected: the European Central Bank's Mario Draghi is committed to do whatever it takes to ensure no country defaults on its debt (provided people do exactly what he says), and in the US, the Federal Reserve's Ben Bernanke will keep short term rates at 'zero' until the US is in a new phase of growth and unemployment drops and stabilises.

The Macro allocation was reduced to 17.13%, down from 20.30% in the previous quarter, as Blenheim Global Markets Fund Ltd was removed from the portfolio. A 6.06% position was opened in LAMP Funds (Ire) 1 plc - Marathon Opportunistic Credit Fund, which resulted in the Credit allocation rising to 13.84%, up from 7.89% in the previous quarter. The Equity Long/Short silo saw two changes, the remaining position of 7H Absolute was sold, and a 3.92% position in LAMP UCITS Funds (Ire) 2 plc - LAMP Visium Global Fund was opened. As a result the total allocation to Long/Short managers rose from 27.35% to 30.64% going into October.

Top contributors YTD as 30.09.2012 (estimated data)

 
 
    -- BTR Global Opportunity Trading Ltd +1.27% 
 
    -- Arrow Offshore Ltd +0.74% 
 
    -- LAMP Funds (Ire) 1 plc - LAMP JANA Partners Fund +0.69% 
 

Top detractors YTD as 30.09.2012 (estimated data)

 
 
    -- LAMP Funds (Ire) 1 plc - Capstone Convexity Fund -1.28% 
 
    -- Rig III Fund Ltd -0.38% 
 
    -- Banyan Capital Fund Limited -0.37% 
 

ALTIN: No changes in underlying fund's liquidity

ALTIN's portfolio continues to focus on hedge funds with a redemption frequency term of 3 months or less. This high level of liquidity allows ALTIN to take advantage of attractive opportunities when they arise. Exposure to a particular investment theme can also be increased via the leverage facility that ALTIN has in place. This high level of flexibility means the portfolio can be nimble in capturing a particular market opportunity or investment theme, or similarly avoid particular market risks.

ALTIN: not affected by redemption issues

ALTIN is a closed-ended and fixed capital fund and as such it is not faced with redemption requests. This provides the investment manager with the opportunity to select the best risk/reward opportunities in the hedge fund universe. Investors can freely buy and sell ALTIN shares on a daily basis on the London or Swiss stock exchanges, without the need to redeem at fixed redemption dates.

For further information, please contact:

 
Investor Relations Manager   Kinlan Communications 
Marc T. Clapasson            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 Estimated NAV performance as at 30 September 2012