Altin, the USD230m multi-strategy fund of hedge funds listed on the London and Swiss stock exchanges, has disclosed its entire hedge fund portfolio holdings as part of its policy of transparency to investors.
The portfolio, featuring more than 40 underlying hedge funds and representing over 10 investment strategies, is well diversified and has a NAV performance of +191.36 per cent since its inception in December 1996.
A number of hedge funds were added to the Altin portfolio in the last quarter of 2013 as follows.
In the global macro strategy there were three additions: ABD Managers plc - Tactical Discretionary Macro UCITS Fund, Civic Capital Currency Offshore Fund Ltd and Merrill Lynch Investment Solutions - Fulcrum Alpha Macro UCITS.
In commodity trading strategy, there were two additions: Atreaus Overseas Fund Ltd and Old Hickory Trading Partners Ltd.
In equity long/short strategy there were two additions: Clearline Capital Partners Offshore Ltd and Perceptive Life Sciences Offshore Fund Ltd.
In the credit long/short strategy there was one addition: PAMLI Global Credit Strategies Offshore Ltd.
In equity market neutral there was one addition: Tradeworx Ultra Select Offshore Fund Ltd.
In multi-strategy funds there was one new addition: Visium Global Offshore Fund Ltd.
Equity long/short and event driven funds were yet again amongst the best performers over the period, but this time equity market neutral funds were the best performers, especially those in the Altin portfolio, which generated +7.2 per cent on average over the quarter. Macro managers, both systematic and discretionary, were in general also able to produce positive returns, although with a lower amplitude and with more dispersion of returns. Finally, relative value strategies in the fixed income space had a harder time and ended the quarter only slightly up.
Altin posted an estimated NAV increase of 10.17 per cent in 2013, ahead of peers and industry benchmarks.
Portfolio as at 1 January 2014:
Global Macro Strategy: 20.81 per cent
ABD Managers plc - Tactical Discretionary Macro UCITS Fund: 1.99 per cent
CCP Quantitative Fund ARISTARCHUS: 0.92 per cent
Civic Capital Currency Offshore Fund Ltd: 1.46 per cent
Fortress Macro Fund Ltd: 2.92 per cent
Hayman Capital Offshore Partners LP: 3.06 per cent
Merrill Lynch Investment Solutions - Fulcrum Alpha Macro UCITS: 0.99 per cent
Stone Milliner Macro Fund Inc: 1.97 per cent
The Tudor BVI Global Fund Ltd: 3.83 per cent
Two Sigma Compass Enhanced Cayman Fund Ltd: 3.67 per cent
Commodity Trading Strategy: 4.24 per cent
Atreaus Overseas Fund Ltd: 0.98 per cent
Goldfinch Capital Management Offshore Ltd: 1.80 per cent
Old Hickory Trading Partners Ltd: 1.46 per cent
Managed Futures Strategy: 1.80 per cent
BlueTrend Fund Limited: 1.80 per cent
Equity Long/Short Strategy: 21.01 per cent
CF Odey Absolute Return Fund: 1.70 per cent
Clearline Capital Partners Offshore Ltd: 3.11 per cent
Coatue Offshore Fund Ltd: 5.49 per cent
Perceptive Life Sciences Offshore Fund Ltd: 1.90 per cent
Pinpoint China Fund: 2.45 per cent
Verrazzano European Focus Fund PLC: 3.66 per cent
Zeal China Fund Limited: 2.70 per cent
Equity Long Bias Strategy: 8.80 per cent
Arrow Offshore Ltd: 3.08 per cent
Golden China Fund: 2.78 per cent
NPJ Global Opportunities Fund: 2.94 per cent
Event-Driven Strategy: 26.82 per cent
Aristeia International Ltd: 3.99 per cent
Castlerigg Ucits Funds plc - Castlerigg Merger Arbitrage UCITS Fund: 0.98 per cent
Jana Nirvana Offshore Fund Ltd: 5.33 per cent
LLSOF LP: 4.09 per cent
Marathon Special Opportunity Fund Ltd: 5.48 per cent
R3 (C) Ltd: 1.99 per cent
York European Focus Unit Trust: 4.96 per cent
Credit Long/Short Strategy: 3.48 per cent
Claren Road Credit Fund Ltd: 2.47 per cent
PAMLI Global Credit Strategies Offshore Ltd: 1.01 per cent
Convertible Bond Strategy: 3.13 per cent
LAMP Fds (Ire) 3 plc - Lazard Rathmore Multi-Strategy Fund: 3.13 per cent
Equity Market Neutral Strategy: 10.35 per cent
Atlas Enhanced Fund Ltd: 3.14 per cent
Tradeworx Ultra Select Offshore Fund Ltd: 0.98 per cent
Two Sigma Absolute Return Enhanced Cayman Fund Ltd: 2.06 per cent
ZP Offshore Utility Fund Ltd: 4.17 per cent
Interest Rate Strategy: 5.70 per cent
EMF Fixed Income Fund Ltd: 1.83 per cent
Providence MBS Offshore Fund Ltd: 3.87 per cent
Protection Strategies: 1.63 per cent
LAMP Fds (Ire) 1 plc - LAMP Conquest Customised Macro Master Fund: 1.63 per cent
Multi-Strategy Funds: 12.15 per cent
Millennium International: 3.92 per cent
Stratus Feeder Ltd: 3.21 per cent
The Segantii Asia-Pacific Equity Multi-Strategy Fund: 2.96 per cent
Visium Global Offshore Fund Ltd: 2.06 per cent
Private Equity: 0.32 per cent
Cerberus Asia Partners LP: 0.32 per cent
Altin AG: 4.67 per cent
Others: 1.81 per cent
Total: 126.72 per cent