Valletta Fund Management Limited is this year celebrating the 10th Anniversary of the Vilhena Funds SICAV plc. Since its launch in October 1997, Vilhena Funds SICAV plc has registered significant growth in investments and as at 31 October 2007 the net assets attributable to shareholders amounted to over €200 million (Lm87 million).
Over the past ten years, the Scheme has grown to offer investors a range of eight domestic and international investment solutions denominated in all the major currencies and investing across the main asset classes. The Vilhena Malta Fund was the first fund launched under the Vilhena Funds SICAV plc on the 29 October 1997, from launch of the Fund up to the 29 October 2007, the Fund registered an annualised return of 9.02%.
In 2004, Valletta Fund Management introduced for the first time in Malta the Multi-Manager concept through the launch of the Vilhena European Multi-Manager Fund, the Vilhena UK Multi-Manager Fund and the Vilhena US Multi-Manager Fund. Multi-Manager Funds predominately invest in units of collective investment schemes thereby allowing wider diversification in terms of industry, sector exposure and investment management expertise.
In 2006, with the launch of the Vilhena Dynamic Multi-Manager Fund, Valletta Fund Management introduced another innovative investment solution under the Vilhena SICAV based on the Absolute Return concept. An Absolute Return Fund seeks to achieve positive returns in all market environments. These funds have greater investment flexibility and offer strong diversification benefits when compared to traditional investments, aiming for stable performance in all market conditions.
Another milestone for the Vilhena Funds SICAV plc is the UCITS certification which the SICAV attained in 2007. The UCITS Directive was introduced to allow funds authorised by the Regulator in any EU member state to be available and sold to customers throughout the EU without requiring further authorisation, thereby attaining the goal of setting a single market for financial services in Europe.
Speaking during a press conference, Peter Perotti, General Manager of Valletta Fund Management said, “This tenth anniversary is a testimony to the fact that VFM is committed to be the leader in the fund management and committed to meeting the ever-evolving investment needs of its customers. We would like to thank our shareholders for placing their trust in Valletta Fund Management and in the Vilhena Funds SICAV plc and we look forward to increasing the number of investors in our Funds. I am pleased to announce that during the month of December, Valletta Fund Management will be reducing the up-front charge on all the Vilhena Funds by 50%.”
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 having £96 billion in assets under management as at 30 September 2007.