LSE & SIX—listed fund of hedge funds

Challenge

• ALTIN was a $240m fund of hedge funds listed on the London and Swiss stock exchanges until 2016
• Post the 2008 financial crisis, many such funds began trading at a discount to net asset value
• With the sector out of favour the discount reached over 33%

Strategy

• Develop a core group of hedge fund and investment reporters following ALTIN
• Explain portfolio construction, volatility management and hedge fund selection criteria
• Comment on hedge fund strategy performance to top tier investment reporters

Result

• Extensive communication of performance, which was up +24.65% in 2013 with NAV up +10.42%, and discount management measures
• Reconnecting with investor groups in London leading to increased interest
• ALTIN share price discount to NAV narrowed to below 10% by 2015