Valletta Fund Management Limited has changed its name to BOV Asset Management Limited.

This change in name reflects the fact that BOV Asset Management is now a fully owned subsidiary of Bank of Valletta plc following the acquisition by Bank of Valletta Group of the 40% shareholding by Insight Investment Management Limited

Speaking about the rebranding, Kenneth Farrugia, Chief Business Development Officer at Bank of Valletta said, "This change reflects the Bank's strategy to focus on long-term sustainability of our business in terms of the new asset management strategic initiatives that will be taken forward by the bank through its subsidiary. Since it was set up in 1995, Valletta Fund Management has established itself at the forefront of the fund management industry in Malta and reinforces the Bank's positioning as a full-fledged financial services provider that provides tailor-made and specialised portfolio management solutions to retail and institutional clients."

Mr Mark Agius, Executive Head at BOV Asset Management said that the Company is today strongly positioned as Malta's leading organisation in the asset management space providing innovative solutions to its clients.

A BOv statement read: "In fact, earlier this month, the Company launched on the market three new portfolio funds under a common contractual fund structure. The three new investments, namely the BOV Conservative Portfolio Fund, BOV Balanced Portfolio Fund and the BOV Growth Portfolio Fund, are portfolio funds of the BOV Investment Fund. These highly innovative investment products have been structured mindful that the level of uncertainty in capital markets changes over time. Consequently the Portfolio Manager will make be investing in an array of asset classes, to help diversify the portfolio whilst seeking to maintain it within the same level of risk tolerance".

BOV Asset Management shares the same vision and strategic goals of the BOV Group, which pivots on customer-centricity. "Harnessing innovation as a means to ensure our financial solutions are tailored to address clients' changing needs in today's dynamic environment and increasingly digitalised world remains a prerogative for BOV Asset Management," explained Mr Agius. He also revealed that BOV Asset Management is in the process of extending its current licence to asset management services offerings beyond collective investment schemes, in order to be able to meet the growing demand for bespoke portfolio management services to institutional clients.

"This is an important milestone, not only for BOV Asset Management, but for all of the BOV Group," concluded Mr Farrugia. "It dove-tails with the Bank's focus on customer-centricity, driven by good corporate governance and financial sustainability, thereby adding value to our customer proposition."