Valletta Fund Management Ltd held its 11th annual general meeting for shareholders of La Valette Funds SICAV plc at the Grand Masters Suite, Hilton Malta.
During the meeting, Valletta Fund Management Ltd general manager Peter Perotti announced that, as at 30 September 2006, La Valette Funds SICAV plc Shareholders’ Funds stood at £278.20 million, an increase of 22.37 per cent from funds registered at 30 September 2005.
He also announced that, as at 31 January 2007, the combined fund size of La Valette Funds SICAV plc increased to just over £284.5 million.
The introduction of a
varied range of funds over this 11-year period has placed La Valette Funds SICAV plc as one of the local investment companies that provide investors with a broad range of investment solutions across the main asset classes, namely cash, bonds and equities, as well as real estate property through its range of 18 sub-funds.
The success of La Valette Funds SICAV plc is reflected in the the increasing number of shareholder accounts, which exceeds 24,000 as at 31 January.
Valletta Fund Manage-ment Ltd has built a very successful track record in managing investment funds, and today provides investors with a comprehensive range of domestic and international investment solutions with different risk profiles, designed to meet the various financial needs of investors, be it income, capital growth or a combination of both.
During the meeting, the directors presented shareholders with the annual report and financial statements of the company for the year ending 30 September 2006, which included an informative market report.
The members present at the meeting approved all the resolutions on the agenda.
The annual general meeting was followed by two
presentations. Mr David Pace Ross, on behalf of Bank of Valletta plc,
as the sub-investment
manager to the La Valette Malta Fund and La Valette Malta Bond Fund, delivered a presentation on a review of, and the outlook for, the local market.
Mr Mark Vella, Head of Marketing at Valletta Fund Management Ltd, provided the shareholders present with a review of and the outlook for the major international capital markets and consequently the perform-ance of the La Valette Funds throughout the year ending 30 September 2006.
He also provided details about the wide range of euro denominated products that Valletta Fund Management Ltd has to offer to Maltese investors, as the country gears itself to the adoption of the single European
currency in January 2008.
Past performance is not necessarily a guide to future performance. The value of the investment may fall as well as rise, and currency fluctuations may affect the value of the investment. The value of real estate property is inherently subjective due to the individual nature of each property. Investments in any of the La Valette Funds should be based on the full details of the relevant prospectus, which may be obtained from Valletta Fund Management Ltd (VFM), Bank of Valletta branches and other licensed financial intermediaries.
VFM and the La Valette Funds are licensed by the MFSA.