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The last twelve months appear to have been good for Altin. Its NAV has grown 5.0%, providing support for its stance that it offers a lower volatility solution with distinctly different sources of return, and its discount has narrowed, boosting share price returns (11.7%). Despite this, a major shareholder (32% holding) is requesting a dividend equivalent to 28.2% of Altin’s net assets (which could have tax implications for some investors) and the replacement of three of its four directors. The board says that the proposals are not in all shareholders’ interests and that they should vote against the majority of them (see pages 4 to 6).

AIA : Altin – A vessel for volatile seas?