Addressing the Bank of Valletta salespeople attending a seminar at the Ramla Bay Resort, Valletta Fund Management Ltd (VFM) general manager Peter Perotti gave a review of the performance of the funds for the quarter ending 30 June 2007, in particular the success of the La Valette Multi Manager Property Fund which, as at 30 June 2007, had a fund size in excess of EUR82 million.
During the seminar, Mr Perotti launched the VFM multi-manager campaign. The VFM Multi-Manager range consists of five funds – the La Valette Multi-Manager Property Fund, the Vilhena Dynamic Multi-Manager Fund and the Vilhena European Multi-Manager Fund, which are denominated in euro, and the Vilhena UK Multi-Manager Fund and the Vilhena US Multi-Manager Fund, which are denominated in Sterling and US dollars respectively. The upfront charge on these funds has been discounted with immediate effect to 2.5 per cent until 30 September 2007 and in the case of the La Valette Multi-Manager Fund, the upfront charge is discounted for applications received until 4 October 2007.
Mr Perotti continued: “The multi-manager range of funds has proved extremely popular with investors,
predominantly in view of the selection of funds spread across different fund
managers. The VFM range of multi-manager funds, which as at 30 June 2007 had over EUR144 million worth of investments, are managed by Insight Investment Management (Global) Ltd, the investment management arm and a fully owned subsidiary of Halifax Bank of Scotland plc and one of the UK’s largest asset managers.
The seminar continued with a video presentation by the Multi-Manager team at Insight Investment. Ana Cukic Munro, director, Portfolio Strategy and Construction, spoke about the proprietary software that was developed in-house, which is used to control risk and manage portfolios effectively, while Patrick Armstrong, director Fund and Manager Selection, outlined the rigorous fund and manager selection process used in managing multi-manager funds.
The seminar was also addressed by Valletta Fund Management Ltd head of marketing Mark Vella, who spoke about the comprehensive range of euro denominated funds that VFM has to offer to Maltese investors as the country gears itself to adopt the single European currency in January 2008. VFM’s range of euro denominated funds consists of eight investment solutions, which invest in different asset classes to include money market, bonds, equity, property and absolute return funds and which have different risk profiles to cater for all types of investors.
The VFM euro-denominated investment solutions are already extremely popular with investors, with over EUR192 million invested across these funds as at 30 June 2007.
Subsequently, Mr Aldo Scardino and Mr David Pace Ross from Bank of Valletta’s Stockbroking, Advisory and Portfolio Management Unit gave a review, as well as an outlook of the local market, and spoke about the
potential of investing in VFM’s range of equity, bond and balanced Malta Funds.
These seminars are organised by Valletta Fund Management on a quarterly basis to keep the Bank of Valletta licensed sales
personnel abreast of
developments in the local and international market as, well as the performance of VFM’s range of funds.