HedgeCo News - Swiss $280m fund of hedge funds, ALTIN AG, has completed its 10% share buyback program initiated in July 2009. ALTIN repurchased 248,279 of its shares for a total of CHF 12.7 million ($11.95 million) corresponding to 5% of the share capital of ALTIN.
As of 1 Jan 2010 ALTIN was fully invested in hedge funds with 15.26% allocated to Macro strategy, 29.71% in Equity Long/Short, 2.58% in Equity long bias, 3.70% in Equity Arbitrage strategy, 3.70% in Event Driven, 3.64% in Fixed Income, 3.54% in Convertible Bonds, 13.38% in Credit Strategy, 17.32% in Multi-Strategy funds, 1.23% in Private Equity, 0.77% in Other Equity and Derivatives strategy, 1.04% in Others and 4.76% in ALTIN shares. Cash was reduced from 6.3% at the end of June 2009 to zero on 1 January 2010.
ALTIN AG is invested in approximately 40 hedge funds following various investment strategies. Its objective is to generate an absolute annual return in US dollars terms with lower volatility than equity markets. ALTIN is managed by Alternative Asset Advisors SA, a management firm specialised in alternative investments and a member of the SYZ & CO Group.