Jesmond Mizzi Financial Services, the Malta representatives of New Star Global Investment Funds, has announced that any investments placed with the company in the New Star Global Investment Funds denominated in euro will be converted from Maltese lira to euro without any charges on exchange. The rate applicable for investments in these funds will be at the central parity rate established by the Central Bank of Malta of MTL/Euro 0.4293.

Jesmond Mizzi, company chairman said this is a great opportunity for local investors who wish to diversify their investments in euro denominated equity and bond funds prior to Malta’s adoption of the euro without incurring additional charges. Investors can select from three funds, two of which are equity funds and a high yield bond fund, namely, the New Star European Growth Fund, the New Star Pan European Equity Fund and the New Star Euro High Yield Fund.

The New Star European Growth Fund aims to provide investors with long-term capital growth through investment in the securities of European companies excluding those in UK. This fund has been awarded the highest possible rating, ‘AAA’, from Standard & Poor’s and has been ranked first quartile over many periods since launch. This fund is managed by Richard Pease.

The New Star Pan-European Equity Fund’s aim is to generate alpha (measure of risk-adjusted performance) through active stock selection, with a primary focus on delivering strong long-term returns. It provides investors with the opportunity to invest in a single diversified portfolio of continental European and UK equities.

The New Star Euro High Yield Fund is managed by James Gledhill and Nick Hayes. James is Head of Fixed Income at New Star and rated ‘AAA’ by Citywire. This high yield fund has a neutral position of 45 per cent investment grade bonds and 55 per cent sub-investment grade bonds. Its neutral position range is +/- 10 per cent. The Fund aims to provide investors with a high level of income whilst maximising the potential for modest long-term capital appreciation. It is aimed at cautious investors wishing to protect capital, and benefit from a high level of income, which is not guaranteed and may vary.

Further information can be obtained from Jesmond Mizzi Financial Services, 67/3 South Street. Valletta, or on telephone 2122 4410, or www.jmfs.net