Ad hoc announcements

Ad hoc announcements (pursuant to Art. 53 LR)
19.09.2022 Alpine Select Ltd.: Semi-Annual report


Ad hoc announcement pursuant to art. 53 LR

 

Alpine Select has published the semi-annual report 2022.
Klick here to download the report.



 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website www.alpine-select.ch.

 

 

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The company offers its shareholders the key benefit of investing into a diversified and alteralternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.

12.09.2022 Alpine Select Ltd: Half-year results and information on the course of business in the first half of 2022


Ad hoc announcement pursuant to Art. 53 LR

 

  • Alpine Select Ltd. («Alpine Select», the «Company») ended the financial reporting period (1 January to 30  June 2022) with a loss of CHF 25.9 million. In the comparative period (as per 30 June 2021) a profit of CHF 11.6 million was reported.
  • The share recorded a negative performance of -9.09% over the first six months of 2022, after paying a dividend of CHF 1.00 per registered share in May 2022. The Net Asset Value («NAV») declined by -17.94% over the same period.

 

Portfolio Development and Investment Activities

There were few places for investors to hide in the first half of 2022. Geopolitical and energy crises dominated the markets. Asset valuations fell, for bonds and equities alike.

H1-22 has proven to be the worst first half for US equities since 1970. The S&P Index declined by -21%, Nasdaq by ‑30% and the SMI by -17%. Meanwhile, bonds have suffered too, which is a rare dynamic given bonds’ typical role as a portfolio balancer when risk assets decline. The U.S. aggregate bond index declined more than -10% in the first six months.

 

Special Situations / Discounted Assets

Alpine Select’s special situations portfolio, which includes core discounted assets and merger arbitrage opportunities, such as Vifor Pharma, Arena Pharmaceuticals, Castle Alternative Invest («Castle AI»), and IP Group, decreased by CHF 10.9 million in H1 2022.

 The M&A arbitrage positions in Vifor Pharma and Arena Pharmaceuticals contributed CHF +0.9 million and have both been cashed in. Given the current attractive market valuations, Alpine Select was able to redeploy into the following positions:

  • Cheyne Total Return Credit Fund, a long-biased corporate credit strategy with a defined maturity of Dec-2024 manages an Investment Grade Credit risk portfolio. Due to the selloff in bonds, the fund currently holds a portfolio with an expected return to maturity of around 40%.
  • The Company also opened another M&A arbitrage opportunity in Biohaven Pharmaceutical, which it expects to return around 10% on an annualized basis. The deal is expected to close early next year.
  • Idorsia Convertible Bond holdings (maturity 2024 and 2028) were built, representing a yield of 8% and 9% to maturity on trade date.

The position in Castle AI (+12%) will be held until liquidation in early 2023. The stock has been delisted and all holdings were liquidated into cash. The discount to NAV (cash) is at 4.75%.

 

The largest dragging position in the Alpine Select portfolio over the first six months was IP Group (-43%) as market rotation out of growth/tech has played its part. However, Alpine Select continues to believe that IP Group has a selection of impressive investments, and that the IP stock is not getting the attention it deserves. At a significant 50% discount to its NAV, IP Group’s shares trade slightly below the value of its top-five holdings plus its net cash. Not only do the IP Group top-five holdings have significant valuation uplift potential in the near term, but that leaves the remaining more than 90 companies in the portfolio essentially valued at zero. To round up, the largest position, Oxford Nanopore, is listed and liquid.

 

Digital Assets

Venture capital and other ‘growth-oriented’ assets decreased in the hostile liquidity environment of the first half 2022. In particular, the digital assets universe came under pressure as leverage unwound following the collapse in Terra’s UST and Luna Token. Prominent crypto hedge fund Three Arrows Capital went into liquidation and crypto borrowing-lending platforms such as Celsius or Voyager suspended customer withdrawals before filing for bankruptcy. The operational risk management mistakes made at these centralized actors came at a high price.

Decentralized Finance is not perfect, however DeFi markets have so far demonstrated to be orderly and efficient. No DeFi app (e.g. Uniswap) has had to pause withdrawals or required emergency financing given the H1-22 contagion. Centralized players were mainly responsible for the negative headlines triggering further de-leveraging with price impact on the various assets.

Further notable returns from the Alpine Select portfolio: Rockaway Blockchain Fund was down 54%; SwissRex fund lost 51% and the Zurich based L1D Fund was down 60%. After 30 June 2022, the digital asset market saw positive momentum returning. While the snapshot performance might look drastic, Alpine Select has made its investments in the digital asset sector with a long-term vision at valuations that leave the portfolio well in the profit zone for this asset class.

Despite the backdrop in valuations, Alpine Select remains an advocate for further blockchain adoption through its investment partners at Rockaway Capital, the Company could secure an USD 1 million stake in a16z funds, which is one of the most important capital providers in the still maturing digital asset industry. Alpine Select’s Digital Assets Allocation P&L since inception is at CHF +8.6 million.

 

East Asia Exposure

After a significant contribution and relative outperformance of the CSI 300 Index in 2021 Alpine Select’s selected local managers were still able generate alpha in H1-22, albeit at a lower degree.

While the broader Chinese market fell -9.2%, the Equity Long/Short Funds performed as following: Value Multiplier Feeder Fund (+5.2%), Fenghe Asia (USTE) Fund (-6.7%) and GH China Century Offshore Feeder Fund (-9.5%).

The Northwest Feilong Fund, dedicated to exploiting inefficiencies in China’s convertible bond market, came in at ‑3% for the first six months of 2022.

 

Annual Shareholders’ Meeting

At the annual shareholders’ meeting held on 18 May 2022, shareholders passed all agenda items and proposals submitted by the Board of Directors of Alpine Select. The distribution of a dividend of CHF 1.00 gross per registered share was paid to shareholders on 25 May 2022.

 

Outlook

Deglobalization and the war in the Ukraine are inflationary and soaring commodity prices are evidence of a rather prolonged area of elevated inflation after years of accommodative zero inflation and zero yield environment. In these oversold markets the Company starts to see discounted and mispriced assets with an attractive risk/reward profile. Given Alpine Select’s mandate, the Company will actively take positions to execute and realize arbitrage and special situations opportunities for its shareholders.

Looking ahead evidence suggests that the world continues to experience several separate inflation cycles, all largely still dating back to the reopening post-Covid (with the exception of the energy price rally due to the Ukraine conflict). Early economic data supports the notion that commodity inflation, supply chain pressures, and labor demand have all peaked.

The team at Alpine Select continues to closely monitor the impact of the geopolitical battlegrounds and their economic and financial consequences. The Company’s overall asset allocation is rigorously challenged along the way.

 

Alpine Select will publish its semi-annual report 2022 on 19 September 2022.

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website www.alpine-select.ch.

 

 

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers its shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


12.08.2022 Alpine Select Ltd: Preliminary information on the semi-annual results as per 30 June 2022


Ad hoc announcement pursuant to art. 53 LR

 

Alpine Select Ltd. («Alpine Select») hereby informs its investors and other interested parties that it expects a consolidated loss of approximately CHF 22.6 million in its financial reporting as per 30 June 2022. In the comparative period (as per 30 June 2021) a profit of CHF 11.6 million was reported.

 

Alpine Select will publish the definitive half-year results on 12 September 2022, and the semi-annual report as of 30 June 2022 on 19 September 2022.

 

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website www.alpine-select.ch.



About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers its shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


6.04.2022 Alpine Select Ltd.: Annual report


Ad hoc announcement pursuant to art. 53 LR

 

Alpine Select has published the annual report 2021.
Klick here to download the report.



 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website www.alpine-select.ch.

 

 

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The company offers its shareholders the key benefit of investing into a diversified and alteralternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.

30.03.2022 Alpine Select Ltd.: Annual results, portfolio development, investment activities, corporate actions 2021 | Outlook and dividend distribution 2022


Ad hoc announcement pursuant to art. 53 LR

 

Annual Result 2021

Alpine Select Ltd. («Alpine Select», the «Company») had a very solid 2021 financial year. Total return to shareholders was +20.27% (increase of the share price from CHF 12.80 to CHF 15.40). This includes a dividend of CHF 1.00 per share (paid out to shareholders in May 2021). The Net Asset Value («NAV») recorded an increase of 22.86% for the same period (from CHF 13.05 to CHF 16.03).

 

In the FER financial reporting, Alpine Select reports an annual profit of CHF 24.0 million as of 31 December 2021. In the comparative period (year 2020) a profit of CHF 5.8 million was reported.

 

The board members again voluntarily decided to keep their compensation at the reduced level of -10%.

 

Portfolio Development and Investment Activities 

The year 2021 has been another favorable year for equities and risk assets. The slow but steady rise in inflation and the debate on its durability have dominated much of the year’s narrative following the global COVID pandemic response. Interestingly, even initial harsh remarks by the FED could not stop western indices to rally towards the end of the year. Except for the Chinese Market, whose performance was negatively impacted by the Socialist Party’s introducing of an inclusive growth economic policy, all major indices were up for the year: S&P 500 +27%, NASDAQ +21%, TOPIX Japan +10%, CSI 300 -5%.

 

Special Situations / Discounted Assets

The special situations portfolio, which includes core discounted assets and merger arbitrage opportunities, made a strong contribution to our overall result of CHF +9.7 million.

 

The Company’s largest position for a good part of 2021 was Castle Alternative Invest Ltd. (CASN). At their ordinary shareholders’ meeting, the CASN shareholders approved agenda item «dissolution and liquidation of the company» with 99.9% of all submitted votes. The main liquidity event occurred end of November 2021, when approximately 90% of CASN assets (all cash) were distributed to shareholders. Alpine Select will hold on to the position until the final liquidation as the remaining discount is still 10%.

 

In 2021, Alpine Select has written extensively about its excitement for the IP Group PLC (IPO) portfolio, which has become the largest discounted asset. IPO’s share price had a strong run, outperforming with +26% in 2021 and contributing CHF +4.9 million to the 2021 P&L. IPO holds a well-diversified, future-oriented and Intellectual Property backed portfolio of operating companies. Alpine Select remains convinced that the shift towards more inclusive solutions in the fields of technology, cleantech and life science will create corporate winners out of the IPO portfolio. The IPO portfolio gained in NAV terms around +11%. However, the IPO’s share price ended the year discounted by around 20% to its NAV.

 

In December, Alpine Select invested in a new attractive merger arbitrage: Australian biopharmaceutical company CSL Ltd. submitted a public tender offer of USD 179.25 per share to VIFOR Pharma Ltd. The deal will close in the first half of 2022, and Alpine Select estimates to realize an annualized return of around 11% in CHF. For the reporting period, this position contributed CHF +1.7 million to the annual result.

 

Digital Assets

Alpine Select’s conscious investment decision to strategically allocate to digital assets and endure the inherent volatility that such exposure bears, has paid off. 2021 was a year of further advances towards adoption of digital assets and businesses on the blockchain. A growing number of investment professionals have embraced this young asset class as valuations continue to soar. The Company’s digital asset portfolio, which is entirely managed by early identified, specialized fund managers, has delivered an impressive return of CHF +15.5 million.

 

Alpine Select believes that the potential applications of blockchain-based businesses and their financialization offer multiple opportunities. Consequently, the Company decided to take a broader and deeper approach to this asset class and reallocated funds within the digital asset exposure. At the end of 2021, it mainly held funds with Layer 1 Digital, Rockaway Capital, and SwissRex Funds.

 

Greater China

Alpine Select wrote before about its beliefs in a bipolar world in which the US and China are the economic heavyweights. Accordingly, the Company has established a diversified portfolio with experienced investors in Mainland and Greater China.

 

In 2021, after 40 years of allowing the market to play a growing role in promoting prosperity, China’s leading party launched policies to balance social fairness and growth as China enters a next phase of economic growth, with GDP per capita exceeding USD 10,000. Rather than tolerating a disorderly expansion of capital, Chinese leaders intend to ensure that dominant companies comply with mainstream values and not abuse their market position. Since that policy announcement, the Chinese market (CSI 300) is down by around 20%.

 

Although the Chinese market significantly underperformed western indices (e.g., CSI 300 delivering -5% FY-21), Alpine Select’s actively managed allocation to the local market gained +24%, contributing CHF +3.9 million to the overall result. Such a significant outperformance of active vs. passive investment management reassures the Company’s firm believe in the active investment style.

 

Alpine Select’s current Chinese exposure is covered by four local funds: GH China Century Offshore Feeder Fund (+17%), FengHe Asia Fund (+27%), Value Multiplier Feeder Fund (+24%) and Northwest Feilong Fund Ltd. (+25%).

 

In December 2021, Alpine Select also made a new investment in an actively managed Chinese healthcare fund with Bin Yuan Healthcare Fund. The Company believes that as Chinese GDP grows, spending on innovative and local healthcare will also increase.

 

True to Alpine Select’s investment style, the Company continues to offer its shareholders access to the Chinese market with allocations to locally rooted, value oriented, like-minded managers who themselves advocate an active asset wealth management style.

 

Other positions

During the 2021 reporting period, the legacy position Cheyne New Europe Fund Inc. («CNEF») matured significantly. As a reminder, this is an illiquid property development fund holding assets in Eastern Europe, mainly in the Czech Republic («CZ»). Alpine Select holds this position since the merger with Absolute Invest and CNEF is not making any new investments.

 

CNEF’s largest assets are several urban and suburban residential real estate projects in and around Prague. The fund benefited from the due to COVID related increased demand for more suitable housing. The construction and sale process of the projects in CZ is progressing well, and thus CNEF not only recorded a pleasing annual performance of +15.3% in 2021 but was also able to pay out CHF 4.9 million to Alpine Select. Due to the positive cash realization of the projects, Alpine Select expects distributions from CNEF to be the new normal and is therefore optimistic of being able to further reduce this illiquid position.

 

Annual Shareholders' Meeting 2021

At the annual shareholders’ meeting held on 17 May 2021, shareholders passed all agenda items and proposals submitted by the board of directors. The distribution of a dividend of CHF 1.00 gross per registered share was paid to shareholders on 21 May 2021.

 

Annual report 2021

The annual report 2021 of Alpine Select can be viewed and downloaded online from 7 April 2022 at https://www.alpine-select.ch/en/investors#downloads.


Outlook 2022

Tragically war has returned to Europe. It is impossible to predict a timing of an end of this warfare, the beginning of a diplomatic solution and the consequential impact on the world order.

 

Even before the outbreak of the war in the Ukraine, inflation and growth data were pointing to an end of the low-yield regime. Wars are generally inflationary and soaring prices for soft commodities, energy and metals are evidence of a rather prolonged area of elevated inflation. Alpine Select believes that if all else being equal, inflation should eventually lead to higher yields although real interest rates might remain negative.

 

Alpine Select continues to closely monitor the impact of this geopolitical battleground in the Ukraine and its economic and financial consequences. The overall asset allocation will be rigorously challenged along the way. However, no changes have been made yet.

 

Further information on Alpine Select’s investment activities can be found in the 2021 annual report and on current focus topics in the monthly reports.

 

Proposted dividend distribution

The board of directors will propose to the ordinary shareholders’ meeting 2022 to distribute a dividend of CHF 1.00 gross per outstanding share.

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website.



About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


16.02.2022 Alpine Select Ltd.: Preliminary information on the annual results 2021 (Swiss GAAP FER)


Ad hoc announcement pursuant to art. 53 LR

 

Alpine Select AG («Alpine Select» / the «Company») hereby informs its shareholders and other interested market participants that it expects a profit of approximately CHF 24.5 million in its Swiss GAAP FER financial reporting 2021. In the comparative period (financial year 2020) a profit of CHF 5.8 million was reported.

 

Alpine Select publishes weekly its consolidated net asset value (NAV). This guarantees a timely flow of information to shareholders and other interested parties regarding the development of the portfolio of the Company.

 

The disclosures made for the financial year 2021 are unaudited. Alpine Select will publish the final results for the year 2021 on 30 March 2022 and the audited annual report with detailed information on 6 April 2022.

 

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website.

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


3.02.2022 Alpine Select Ltd.: Information on the current investment in Rockaway Blockchain Fund


Ad hoc announcement pursuant to art. 53 LR

 

In May 2021 Alpine Select Ltd. (“Alpine Select”) made an investment totaling USD 1,000,000 in the Rockaway Block-chain Fund (“RBF”) and made a commitment for a further USD 1,000,000.

 

The fund manager of RBF has now confirmed that the USD 1 million invested by Alpine Select is worth USD 6.6 million as of 30 September 2021, representing an increase in value of USD 5.6 million. This results in a positive contribution in Alpine Select’s NAV of around +3.6%.

 

Alpine Select will incorporate any future confirmations on the performance of RBF in its NAV calculation without delay.

 

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website.

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


12.10.2021 Alpine Select Ltd.: Information on the current investment in Rockaway Blockchain Fund


Ad hoc announcement pursuant to art. 53 LR

 

In May 2021 Alpine Select Ltd. (“Alpine Select”) made an investment totaling USD 1,000,000 in the Rockaway Block-chain Fund (“RBF”) and made a commitment for a further USD 1,000,000.

 

The RBF Investor Summit took place in Zurich today. The participants were informed that, according to the manager’s assessment, the RBF had achieved an Internal Rate of Return (IRR) of +656% as of 30 September 2021. Thus, the USD 1,000,000 that Alpine Select has already invested, has a currently unrealizable value of USD 7,560,000, which represents an increase of USD 6,560,000 over the already invested investment and +5.01% of the current net asset value (“NAV).

 

However, since this position cannot be realized at the moment, the RBF-manager’s estimated IRR valuations are not taken into account in Alpine Select’s NAV.

 

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website.

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


6.09.2021 Alpine Select Ltd.: Semi-Annual report


Ad hoc announcement pursuant to art. 53 LR

 

Alpine Select has published the semi-annual report 2021.
Klick here to download the report.



 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website www.alpine-select.ch.

 

 

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The company offers its shareholders the key benefit of investing into a diversified and alteralternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.

31.08.2021 Alpine Select Ltd.: Half-year results and information on the course of business in the first half of 2021


Ad hoc announcement pursuant to art. 53 LR

 

  • Alpine Select Ltd. («Alpine Select», the «Company») ended the financial reporting period (1 January to 30 June 2021) with a profit of CHF 11.6 million. In the comparative period (as per 30 June 2020) a loss of CHF 9.7 million was reported.
  • The share recorded a positive performance of 10.90% over the first six months of 2021, after paying a dividend of CHF 1.00 per registered share in May 2021. The Net Asset Value («NAV») gained 9.45% over the same period.

 

Portfolio Development

Discounted Assets: The core holdings IP Group and Castle Alternative Invest («Castle AI») contributed a substantial CHF+5.26 million (CHF +3.70 million and CHF +1.56 million, respectively) to the half-year financial result. The development of the latest portfolio trouvaille IP Group, accumulated at considerable discounts, was particularly pleasing (+14.8%). By the end of June, not only had the discount to NAV decreased to around 10%, but the IP Group’s portfolio also gained in value. IP Group is well-managed, and the portfolio continues to mature which leads to a higher net cash position on the balance sheet. The outlook for IP Group for the second half of 2021 is extremely promising.

 

The Castle AI share price rose 7.69% in the first six months of 2021. At the ordinary shareholders’ meeting held in May, the dissolution and liquidation of the company was approved with 99.9% of votes. It is expected that the liquidation at NAV will be carried out later this year. The discount to NAV was around 6% at the end of June 2021.

 

Crypto Exposure: Investments in digital assets developed positively and contributed CHF +5.14 million to the half-year financial result, and all active managers deliver above-benchmark results. The highlight of this reporting period was the Zurich-based Swissrex Crypto Fund, which returned +244% in the reporting period. It seems particularly worth mentioning here that the SwissRex Fund managed the highly volatile months of May and June remarkably well (thanks to the active downside protections), while the broader cryptocurrency market recorded significant losses.

 

East Asia Exposure (China and Japan): The East Asia portfolio added CHF 3.91 million to the semi-annual result. Alpine Select remains committed to finding like-minded managers for an actively managed exposure in East Asia and it is therefore particularly pleasing that all the fund managers in the overall portfolio contributed positively to the half-year result.

 

Investment Activity

Alpine Select significantly expanded its core position IP Group in the first half year and also improved its crypto exposure.

 

The uses of blockchain technology are immeasurably divers; a more diversified investment activity in this area has therefore almost been imposed. Until the end of last year Alpine Select was mainly involved in Bitcoin (BTC) and Ethereum (ETH). In the current reporting period, funds with a systematic trading approach were redeemed and assets were reallocated to the Switzerland-based Layer 1 Digital AG and a new investment was made in the 162 Digital Capital Fund.

 

Annual Shareholders' Meeting / Corporate Actions

At the annual shareholders’ meeting held on 17 May 2021, shareholders passed all agenda items and proposals submitted by the Board of Directors of Alpine Select. The distribution of a dividend of CHF 1.00 gross per registered share was paid to shareholders on 21 May 2021.

 

In total, Alpine Select has paid its shareholders a cumulative CHF 13.62 per share over the past 10 years. The Company sees no need to change its distribution policy.

 

Outlook

With a view to its current portfolio composition along the dominant investment pillars, Alpine Select is extremely positive about the future.

 

On the one hand, Alpine Select is constantly on the outlook for well-managed yet discounted assets where the discount doesn’t seem justified. A prime example is the debt-free portfolio of IP Group, which was purchased in summer 2020 at a discount of around 35% to NAV. The further development of the company’s assets appears positive and significant impulses can be expected in the second half of 2021. A well-executed IPO of Oxford Nanopore Technologies should not only close the discount to current IP Group’s NAV, but also increase IP Group’s NAV.

 

On the other hand, Alpine Select is constantly striving to find like-minded, value-oriented, and active fund managers for strategic allocations in assets or regions in which it has conviction. The Company is confident that within its current exposure topics East Asia (Greater China and Japan), Technology and Crypto Assets it has found trustworthy investment managers who have achieved very solid results in the first six months of 2021.

 

 

Alpine Select will publish the semi-annual report as of 30 June 2021 on 6 September 2021.

 

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website.

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.


10.08.2021 Alpine Select Ltd.: Preliminary information on the semi-annual results as per 30 June 2021


Ad hoc announcement pursuant to art. 53 LR

 

Alpine Select Ltd. («Alpine Select») hereby informs its investors and other interested parties that it expects a consolidated profit of approximately CHF 11.5 million in its financial reporting as per 30 June 2021. In the comparative period (as per 30 June 2020) a loss of CHF 9.7 million was reported.

Alpine Select will publish the definitive half-year results on 31 August 2021, and the semi-annual report as of 30 June 2021 on 6 September 2021.

 

For further information, please contact Claudia Habermacher (This email address is being protected from spambots. You need JavaScript enabled to view it.) or visit our website.

About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The Company offers shareholders the key benefit of investing into a diversified alternative investment portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.