Valletta Fund Management Limited (“VFM”) has announced that the Vilhena Funds SICAV plc has qualified to carry out the activities of a Maltese UCITS. Moreover, the MFSA also issued a revised Investment Services licence for VFM to operate as a Maltese Management Company pursuant to the UCITS Regulations.
All funds within the Vilhena SICAV plc are now freely passportable throughout EU member states. UCITS, which stands for Undertakings for Collective Investment in Transferable Securities is based on EU rules and regulations and is common to all EU member countries.
Peter Perotti, general manager at Valletta Fund Management said, “This is another milestone for Valletta Fund Management as we are the first company licensed as a Maltese Management Company pursuant to the Undertaking for Collective Investment in Transferable Securities and Management Companies Regulations.
“The UCITS directive was introduced to allow funds authorised by the regulator in any EU member state to be available and sold to customers elsewhere in the EU without requiring further authorisation, thereby attaining the goal of setting a single market for financial services in Europe.”
He added, “Valletta Fund Management was set up 12 years ago and during this period, we have built a well-diversified portfolio of funds.
“We recognise the potential of the European market and believe that we offer a number of interesting products under the Vilhena Funds SICAV plc which could fit in the portfolio of EU residents.
“Moreover, we will be studying the possibility of introducing a number of niche products which could be promoted in selected EU countries.”
“Valletta Fund Management will be looking at the EU market more actively once Malta adopts the euro on 1 January 2008.
“We have been very active in adopting a strategy of being Malta’s leading provider of euro-denominated products by introducing a comprehensive range of funds investing across all asset classes which include money market, bonds, equity, property funds and absolute return funds.
“These funds are already extremely popular with Maltese investors and we are seeing an increased interest now that the decision to adopt the euro is final.”
The UCITS certification will not change the fund currency, investment objective, investment policies and underlying investments of the Vilhena Funds and more importantly, this will not result in any additional cost for the Vilhena shareholders.
All Valletta Fund Management Limited’s funds are managed by Insight Investment Management (Global) Limited, the asset management arm of the Halifax Bank of Scotland one of the top UK Banking Groups and a FTSE 100 company. Insight Investment, one of the UK’s largest asset managers, had £96.1 billion in assets under management as at 31 March.
Investors requiring additional information on UCITS and Valletta Fund Management’s range of investment funds may call at Valletta Fund Management Limited, any branch of Bank of Valletta or any licensed financial intermediary.
Disclaimer
Past performance is not 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. Investments should be based on the full details of the Relative Prospectus, which may be obtained from Valletta Fund Management Limited (“VFM”), Bank of Valletta Branches and other licensed financial intermediaries.
VFM is licensed by the MFSA. The Vilhena Funds are licensed as Collective Investment Schemes, qualifying as UCITS, by the MFSA. Insight Investment Management (Global) Limited and Halifax Bank of Scotland (“HBOS”) are regulated by the Financial Services Authority (UK). Issued by VFM, Level 6, The Mall Offices, The Mall, Floriana FRN 1470. Tel.: 2122-7311, Fax: 2123-4565, email: [email protected], website: www.vfm.com.mt