FAQs
 |
| Investing In The Company |
|
1.1.How can I invest in ALTIN AG?
1.2.Why is ALTIN AG quoted in USD?
1.3.What is the Manager's experience in alternative investments?
1.4.Can I redeem shares with the company?
1.5.What is the difference between the Net Asset Value and the stock price?
1.6.What is a premium / discount?
1.7.Where can I find information about the premium / discount?
1.8.What are the risks involved in investing in ALTIN?
1.9.What is the difference with a mutual fund?
|
| How can I invest in ALTIN AG? |
|
ALTIN AG is quoted in USD on the Swiss Stock Exchange (SIX) and on the London Stock Exchange (LSE). To buy or sell ALTIN AG shares, simply place your orders through your bank using the details given below or go to the Contacts page to find the active brokers.
| |
SIX (Zurich) |
LSE (London) |
| Symbol (Reuters) |
ALTIn.S |
ALTIwq.L |
| Symbol (Bloomberg) |
ALTN SW |
AIA LN |
| Valor Nr. |
1 442 452 |
|
| ISIN |
CH0014424524 |
CH0014424524 |
| SEDOL |
4819053 |
3120596 |
ALTIN AG has been trading on the Swiss exchange since August 1996 and on the London Stock Exchange since December 2001. ALTIN started its activity as an alternative company in December 1996, which is used as the reference date for all performance calculations.
|
| Why is ALTIN AG quoted in USD? |
|
Most investments are denominated in US Dollars and the currency risk for an investor based in another currency (for example, a Swiss or a UK investor) is not hedged.
In order to reflect the nature of the investments, avoid any possible confusion and allow investors to take better-informed decisions, ALTIN AG has taken advantage of the possibility offered by the Swiss Stock Exchange and has changed its quotation currency to USD on 25 October 2000. ALTIN AG equally trades in USD on the London Stock Exchange.
|
| What is the Manager's experience in alternative investments? |
|
The Investment Manager, Alternative Asset Advisors S.A., is responsible for the alternative asset management of the SYZ & CO Group. This includes advisory and investment management services for institutional and high net worth individuals. The team is composed of over 40 professionals with various backgrounds and a solid experience in hedge fund investing. For more information, visit the Investment Manager's website (www.3-a.ch).
|
| Can I redeem shares with the company? |
|
No, shareholders do not redeem their shares with ALTIN AG. ALTIN AG is an investment company with a fixed number of shares listed on the Swiss Stock Exchange and on the London Stock Exchange. As such, shareholders of ALTIN AG may sell their shares daily at market price on the relevant stock exchange.
|
| What is the difference between the Net Asset Value and the stock price? |
|
The NAV reflects the intrinsic value of the company, i.e. the total assets of the fund (closing market value of all securities plus all other assets such as cash) minus all its liabilities, divided by the total number of shares outstanding. The stock price reflects the price at which shares of the company can be bought or sold on the stock exchange, regardless of the company's intrinsic value. The eventual difference between the NAV and the stock price is called the premium (if the stock price if higher than the NAV) or the discount (if the stock price is lower than the NAV).
|
| What is a premium / discount? |
|
If the stock price is higher than the NAV, the difference is called the premium. It means that a buyer is paying on the stock exchange more than the company's intrinsic value.
If the stock price is lower than the NAV, the difference is called the discount. It means that a buyer can buy shares of the company for less than the intrinsic value.
On the long term and regardless of objective reasons explaining a premium or a discount such as tax considerations for instance, premiums and discounts are not stable and should theoretically tend towards zero. Investors buying shares with a premium should then be aware that the premium can disappear from one day to the other, regardless of the performance of the underlying assets. On the other hand, investors buying shares with a discount can benefit of a possible adjustment of the stock price to the NAV.
The stock price and the NAV are published daily in order to inform investors about the premium/discount. A chart showing the long-term evolution is available.
|
| Where can I find information about the premium / discount? |
|
Information about the premium/discount of ALTIN AG shares is provided on this web site in the "Portfolio Analysis" section (see "Premium/Discount Chart" on page "Performance Data"), or by calculating the difference between the stock price and the NAV.
|
| What are the risks involved in investing in ALTIN? |
|
Besides the risks involved in investing in financial markets, alternative investments entail a number of specific risks such as the use of leverage, the investment in derivatives as well as relatively illiquid markets or the use of complex arbitrage strategies. Most of the funds in which ALTIN AG invests are based in offshore jurisdictions.
|
| What is the difference with a mutual fund? |
|
A mutual fund is an open-ended investment vehicle where the number of shares varies according to the amount of shares that are purchased and redeemed over time. Mutual fund shares are redeemable on demand at net asset value by investors. ALTIN is a closed-ended investment company with a fixed number of shares listed on the Swiss Stock Exchange and on the London Stock Exchange. As such, ALTIN, unlike a mutual fund, does not issue and redeem shares on a continuous basis. Shareholders of ALTIN AG may buy and sell their shares daily at market price, which is an advantage compared to the majority of alternative funds that are less liquid. The stock price can however differ from the NAV.
Register to our mailing service to get regular information about ALTIN. © ALTIN AG 2010/2009. Please read the important legal information and disclaimer.
| 
top
