SEMI-ANNUAL
REPORT
2023
Investors' Information
Board of Directors | |
Raymond J. Baer | Chairman |
Thomas Amstutz | Member |
Dieter Dubs | Member |
Michel Vukotic | Member |
Management | |
Claudia Habermacher | Chief Executive Officer |
Lukas Hoppe | Chief Operating Officer |
Michel Vukotic | Chief Investment Officer |
Auditors | |
BDO AG | |
Schiffbaustrasse 2 | |
8031 Zurich / Switzerland | |
Alpine Select Facts | |
Incorporation date | 17 September 1997 |
Listing | SIX Swiss Exchange |
Stock Exchange Symbol | ALPN |
Swiss Security Number | 1.919.955 |
ISIN Code | CH0019199550 |
Reuters | ALPN.S |
Bloomberg | ALPN SW EQUITY |
Type of Share | Registered share |
Total Shares Issued | 9,257,970 (as of 7 July 2023: 8,709,900) |
Custodian | Bank Julius Baer |
Management Fees | None |
Performance Fees | None |
Distributions | Out of retained earnings |
Corporate Calendar | https://www.alpine-select.ch/en/investors#calendar |
Contact
Alpine Select Ltd.
Gotthardstrasse 31
6300 Zug / Switzerland T +41 41 720 4411 investorrelations@alpine-select.chhttps://www.alpine-select.ch/
Contents
Key Figures | 4 |
Chairman's Statement and Review of | 6 |
Operations | |
Consolidated Interim Financial Statements | 9 |
Selected Notes to the Consolidated Interim | 15 |
Financial Statements |
Key Figures
Allocation by Asset Class | ||||||||||
Performance Table 1) | in % of Total Assets 2) | |||||||||
Share Price | NAV | Premium / | Equity - | |||||||
(CHF) | (CHF) | discount to NAV | Cash 3) | Long/Short | ||||||
30 June 2023 | 11.00 | 10.79 | 1.95% | 13.4% | ||||||
21.4% | ||||||||||
31 Dec 2022 | 11.09 | 10.79 | 2.80% | |||||||
Equity - | ||||||||||
High YTD 2023 | 11.28 | 11.77 | ||||||||
Real Estate | 9.4% | 20.0% Long Only | ||||||||
Low YTD 2023 | 10.54 | 10.77 | ||||||||
(Legacy) | ||||||||||
4.2% | ||||||||||
31.6% | Blockchain/ | |||||||||
Credit | Digital Assets | |||||||||
Opportunities | ||||||||||
Allocation by Region | ||||||||||
Selected Balance Sheet Items 4) | in % of Total Assets 2) | |||||||||
in TCHF | 30-Jun-23 | 31-Dec-22 | 30-Jun-22 | |||||||
Current assets | 17 872 | 18 260 | 6 925 | Cash 3) | ||||||
21.4% | ||||||||||
Non-current assets | 82 422 | 96 269 | 124 807 | Japan | 3.3% | 30.1% | Europe | |||
Current liabilities | 619 | 5 195 | 16 549 | |||||||
Non-current liabilities | 330 | 392 | 794 | USA | 16.9% | |||||
Equity attributable to the shareholders | ||||||||||
of Alpine Select | 93 958 | 103 596 | 108 184 | 28.3% | ||||||
Non-controlling interests | 5 387 | 5 346 | 6 205 | Global | ||||||
Top Positions of the Portfolio as per 30 June 2023 | Investment Manager | ||||
in % of Total Assets 2) | in % of Total Assets 2) | ||||
Fund name | Asset Class | Allocation | |||
Cash | 3) | 21.4% | Alpine | ||
Select | |||||
IP Group PLC | Equity - Long Only | 11.3% | |||
Cheyne Total Return Credit Fund | Credit Opportunities | 11.0% | 42.9% | External | |
Cheyne New Europe Fund Inc. | Real Estate (Legacy) | 9.4% | |||
Manager | |||||
Nishkama Capital Offshore Fund Ltd. | Equity - Long/Short | 5.8% | 57.1% | ||
Aleutian Fund | Credit Opportunities | 4.7% | |||
Idorsia Ltd. | Credit Opportunities | 4.6% | |||
Orchard Liquid Credit Fund | Credit Opportunities | 3.4% | |||
- All figures are adjusted for the dividend payment in May 2023.
- Financial assets, derivatives, and net cash.
- Derivatives and Net Cash includes cash-alike investments.
- Information herein is presented in addition to the consolidated interim financial statements.
4
Key Figures
Net Annualized Return (30 September 2003 to 30 June 2023)
Share Price | 5.46% |
Monthly NAV 1) (net, est.) | 5.11% |
6 Months Price-History in CHF for the Period January to June 2023 Daily closing share price and weekly NAV
12.0 | Share Price | Weekly NAV | ||||
11.5 | ||||||
11.0 | ||||||
10.5 | ||||||
10.0 | ||||||
Dec-22 | Jan-23 | Feb-23 | Mar-23 | Apr-23 | May-23 | Jun-23 |
Monthly NAV Performance in % 1)
Jan | Feb | Mar | April | May | June | July | Aug | Sept | Oct | Nov | Dec | Annual | |
2023 | 1.55 | 2.53 | -2.83 | 0.28 | -0.34 | -0.75 | 0.30 | ||||||
2022 | -1.37 | -3.22 | 0.39 | -0.07 | -1.55 | -5.32 | 1.49 | -3.53 | -3.26 | -2.04 | 1.15 | -1.95 | -18.17 |
2021 | 0.35 | 3.03 | 4.25 | 1.67 | 1.35 | 0.02 | -0.61 | 1.25 | 4.90 | -1.95 | 1.05 | 2.92 | 19.56 |
2020 | -0.05 | -1.63 | -3.37 | -4.58 | 2.40 | 0.63 | 2.58 | 0.88 | 1.40 | -0.18 | 1.68 | 3.50 | 3.07 |
2019 | 0.46 | 1.05 | 1.83 | 0.91 | 0.53 | -0.93 | 1.69 | -1.30 | 0.40 | 0.05 | 2.72 | 0.46 | 9.50 |
2018 | 2.37 | 0.25 | -0.17 | -0.10 | 0.35 | -1.48 | 0.90 | -0.17 | -0.05 | -1.90 | -4.72 | -2.99 | -9.90 |
Monthly Share Price Performance in %
Jan | Feb | Mar | April | May | June | July | Aug | Sept | Oct | Nov | Dec | Annual | |
2023 | -1.65 | 1.68 | -0.83 | 0.00 | 0.00 | 0.00 | -0.83 | ||||||
2022 | 0.65 | -6.45 | 3.45 | 0.00 | -3.08 | -3.70 | -1.50 | -0.78 | -5.51 | 0.00 | 0.83 | 0.00 | -15.38 |
2021 | 0.73 | 2.90 | 3.52 | 3.40 | 0.66 | -0.70 | 1.40 | 1.39 | 2.05 | 1.34 | 2.65 | -0.65 | 20.27 |
2020 | 0.00 | -1.40 | -7.80 | 2.31 | 0.06 | 1.63 | 0.80 | 0.79 | 1.60 | 0.78 | 2.31 | 3.00 | 3.66 |
2019 | 0.00 | 0.72 | 0.71 | 1.42 | -1.43 | 0.00 | 1.24 | 0.72 | 0.00 | 0.70 | 1.43 | 0.70 | 6.38 |
2018 | 1.84 | 0.00 | -0.60 | 0.00 | 0.53 | -1.28 | 0.60 | -0.65 | 0.00 | -4.55 | -1.36 | -3.10 | -8.33 |
- The monthly NAV performance as disclosed is based on the estimated monthly NAV as published by the Company. Published NAVs are not adjusted except for the effect of dividend distributions and the issuance of tradeable put options of Alpine Select Ltd. Estimated and effective monthly NAVs may differ.
5
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Disclaimer
Alpine Select AG published this content on 19 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2023 17:04:04 UTC.