Alpine Select : Monthly Report December 2015

Microsoft Word - Alpine Select Monthly 2015 12

Alpine Select Ltd. is a professional investment company listed on the SIX Swiss Exchange since 1998. The company offers institutional and individual investors the opportunity to buy into a broad portfolio with core investment strategies focusing on: discount, risk-arbitrage, tactical exploitation of under- researched companies/situations, short term opportunities and liquid hedge funds.

Top Positions as a Percentage of Net Asset Value (NAV)

Allocation by Investment Type1)

1) Excluding cash and other assets / (liabilities), net

December 2015

NAV Update as of 31 December 2015

Latest NAV (Estimate)

Monthly net return

Year to date performance Total Net Assets

CHF 16.78

-1.18%

-0.55% CHF 240m

Share Price as of 31 December 2015

Share price CHF 16.90

Monthly performance -0.88% Year to date performance +0.73% Premium/(Discount) to NAV 0.72%

Alpine Facts

Incorporation Date 18.09.1997

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 Shares Registered shares Outstanding Shares 14,316,232 Custodian Bank Julius Baer

Management Fees None

Advisory Fees CHF 0.7m/annually

Performance Fees None

Distributions Out of reserves from capital contributions

Alpine Select Ltd. Bahnhofstrasse 23

6300 Zug

T [phone]

[e-mail] www.alpine-select.ch

Contact

Estimated NAV Performance in %2)

Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD
2015	0.6	3.2	2.8	-0.8	0.2	-0.8	-1.0	-1.8	-1.8	-1.7	1.8	-1.2	-0.6
2014	2.3	1.4	-1.8	-0.83)	5.8	1.2	-1.1	0.6	-2.2	2.9	0.9	1.6	11.1
2013	1.8	0.2	0.5	-0.7	3.9	-2.1	1.0	-1.2	3.9	3.5	-0.1	1.0	12.2
2012	1.5	3.1	0.0	1.8	-2.7	2.6	0.3	1.4	1.4	-4.9	-2.8	7.2	8.7
2011	3.5	2.0	0.6	3.0	4.2	-1.2	-1.2	-4.5	-2.0	1.7	-1.4	-0.5	3.8

2) The monthly NAV performance as disclosed in above performance table is based on the estimated monthly NAVs as published by Alpine Select. The NAV effect of the acquisition and consolidation of Absolute Invest is considered from April 2014 on. Published NAVs are not adjusted except for the effect of dividend distributions of Alpine Select. Reference is also made to the Company's disclaimer.

3) Change to publication of consolidated NAV only

Disclaimer

None of the information in this report does, by itself, constitute an offering or an offering circular according to Article 652a of the Swiss Code of Obligations and is subject to change without notice. The data is intended for information purposes only and is provided without any warranty of any kind, either expressed or implied. Before making an investment, you must obtain and carefully read all information needed to evaluate the investment including, but not limited to the documents providing important disclosures regarding risks, fees and expenses.

All Net Asset Values (NAV) are best estimates. Monthly and YTD NAV performances are based on the estimated monthly NAVs as published by Alpine Select. The NAV effect of the acquisition and consolidation of Absolute Invest is considered from April 2014 on. Published NAVs are not adjusted except for the effect of dividend distributions of Alpine Select.

While some information used on this report may have been obtained from various published and unpublished sources considered to be reliable, Alpine Select neither guarantees its accuracy or completeness nor accepts liability for any direct or consequential losses arising from its use. Shares in Alpine Select are not bank deposits and are subject to investment risk, including the loss of the principal amount invested. This investment is not guaranteed by Alpine Select Ltd.

Past performance is no indication of future performance.