June 2016

Performance Figures (Net)

Cumulative

Fund

Index

MTD

-1.83%

-0.43%

YTD

-3.37%

-2.56%

1-year

-3.97%

-5.38%

3-year

+10.56%

+5.88%

5-year

+10.21%

+8.46%

Since inception

+204.16%

+137.18%

Annualised

3-year

+3.40%

+1.92%

5-year

+1.96%

+1.64%

Since inception

+5.84%

+4.51%

ALTIN AG is a Swiss public company whose share price is linked to the performance of its Subsidiary, Altin Ltd., a closed- ended offshore fund of hedge funds. Aiming to generate absolute annual returns in USD terms, with a lower volatility than equity markets, the portfolio invests in a variety of hedge fund strategies. Traded daily on the Zurich and London Stock Exchanges, ALTIN AG shares provide investors with an easy and efficient access to alternative investments.

Main Fund Facts

Final NAV USD 68.49

Share Price (SIX) USD 61.90

Share Price (LSE) USD 61.00 Portfolio Size USD 236'269'946

Inception Date 01-Dec-96 Share class currency USD Legal Structure Swiss Investment Company

Reference Index HFR FoF Composite Listing SIX, LSE

Performance Chart

Monthly Returns (Net)

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2016

-3.37%

-0.04%

-1.54%

-1.06%

0.25%

0.83%

-1.83%

2015

2.06%

0.05%

2.46%

1.91%

0.34%

0.79%

-2.80%

1.56%

-1.46%

-1.76%

-0.28%

0.97%

0.38%

2014

5.66%

0.68%

2.06%

-1.66%

-1.21%

2.33%

1.12%

0.12%

1.17%

-0.44%

-2.20%

2.23%

1.45%

2013

10.37%

2.15%

0.31%

1.34%

0.79%

1.27%

-1.86%

0.57%

-0.65%

2.25%

0.88%

1.53%

1.42%

2012

2.85%

1.85%

1.70%

0.91%

-0.12%

-0.95%

-1.55%

0.77%

0.84%

-0.42%

-0.56%

-0.36%

0.77%

2011

-7.52%

0.50%

2.04%

-0.47%

1.13%

-1.38%

-2.50%

0.15%

-3.95%

-2.54%

-0.04%

-1.00%

0.45%

2010

12.47%

-0.31%

0.94%

1.98%

1.78%

-3.52%

-1.34%

1.44%

-0.01%

4.16%

2.42%

1.24%

3.27%

2009

13.55%

2.27%

-0.41%

0.04%

0.05%

2.82%

0.33%

1.51%

1.42%

1.57%

0.52%

1.01%

1.70%

2008

-29.20%

-4.42%

3.83%

-5.02%

-0.14%

2.60%

-0.59%

-5.73%

-3.05%

-10.20%

-4.96%

-2.94%

-2.60%

2007

16.30%

0.80%

2.86%

1.94%

1.95%

2.84%

1.47%

1.85%

-3.35%

3.28%

4.27%

-3.99%

1.60%

2006

20.49%

6.25%

0.92%

3.20%

4.58%

-3.41%

-1.09%

-0.31%

0.93%

-0.92%

2.39%

3.97%

2.69%

Annualised Risk Measures (Net)

Fund

Index

Annualised Volatility

7.43%

5.81%

Gain Deviation

4.57%

3.60%

Loss Deviation

5.93%

4.69%

Sharpe Ratio (RFR 4%)

+0.27

+0.11

Best Month

+6.67%

+6.85%

Worst Month

-10.20%

-7.47%

% Positive Months

65.53%

63.83%

% Negative Months

34.47%

36.17%

Correlation

0.77

Maximum Drawdown

-30.94%

-22.20%

Recovery Period

74

66

The table above only shows the monthly returns for the previous ten years. The full historical returns since launch in December 1996 can be retrieved at www.altin.ch.

Allocation by Style

Significant Holdings

Monthly Comment

ALTIN was down for the month. The surprising "leave" vote from the UK shook markets and even though they recovered shortly afterwards many managers were left wrong footed in the aftermath of the vote. With regards to the portfolio, all styles detracted from performance except for protection strategies that took advantage of the volatility spike on the day of the Brexit. Most equity managers had expected increased volatility due to political uncertainty and reduced exposures therefore missing the rally that followed in the last days of the month. Relative Value statistical arbitrage detracted from performance as the Brexit vote triggered a significant regime shift in the market environment that was detrimental to mean-reverting nature of the strategy. The Event Driven allocation was negative as gains in credit managers could not offset losses in equity. Macro was the most negative style as losses came from a pro-cyclically positioned manager and an energy focused fund. Looking forward we expect that the gradual normalization of the markets will continue and that managers will be able to take advantage of the opportunities created by the Brexit shock.

Administrative Information

Stock Exchanges SIX

Trading Daily

CH Security Nr 1 442 452

ISIN Code CH0014424524

SEDOL 4819053

Reuters ALTIn.S

Bloomberg ALTN SW

Reuters Page ALTIN

Web Site www.altin.ch

LSE

Daily

- CH0014424524

3120596

ALTIwq.L AIA LN

-

www.altin.ch

Minimum Investment 1 share

Management Fee 1.5% based on market cap.

Performance Fee 5% perf. fee for 20% NAV increase.

Investment Manager Alternative Asset Advisors SA, Bahamas

Central Administration Citco Fund Services, Cayman Islands

Independent Auditors KPMG AG, Zurich

Fiscal Year December End

The market valuation, terms and calculations contained herein are final but unaudited. Over time, there may be changes to the information currently supplied in this document. No responsibility is taken for amending or correcting any previously supplied information. This material is for private information only and should not to be construed as an offer to sell or the solicitation to buy any investment product. The information provided is believed to be reliable, without any guarantee of completeness or accuracy and it should not be relied upon as such. Past performance does not guarantee or predict future performance.

Altin AG published this content on 30 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2016 15:04:01 UTC.

Original documenthttps://www.altin.ch/relations/publications/CNTP_705086_DE

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