Altin – A vessel for volatile seas? – is the title of the annual review note from Marten & Co published in March 2016.
The last twelve months appear to have been good for Altin. Its NAV has grown 5.0%, providing support for its stance that it offers a lower volatility solution with distinctly different sources of return, and its discount has narrowed, boosting share price returns (11.7%). Despite this, a major shareholder (32% holding) is requesting a dividend equivalent to 28.2% of Altin’s net assets (which could have tax implications for some investors) and the replacement of three of its four directors. The board says that the proposals are not in all shareholders’ interests and that they should vote against the majority of them (see pages 4 to 6).
Altin – A vessel for volatile seas? – UPDATE
The London-listing of the shares is to be cancelled with effect from Friday 30 September 2016. In December 2017 Alpine Select merged with Altin Ltd., a Swiss multi-strategy investment company, listed on the SIX Swiss Exchange and took the name of Alpine. The company is a Swiss domiciled fund of funds with listings in Switzerland. Its objective is to deliver capital appreciation and to achieve a superior risk-adjusted performance with a low annualised standard deviation. It invests in a range of hedge funds and other alternative investment funds.
You can access the fund’s website here
AIA : Altin – A vessel for volatile seas?