Wignacourt Funds SICAV recently held its eight annual general meeting at the Corinthia Palace Hotel, Attard. The directors presented the shareholders with the annual report and financial statements of the company for the year ended 31 May. The Net Asset Value of the company as at year-end stood at over €29.53 million.

Following the AGM, two presentations were delivered. In the first presentation, David Pace Ross from Bank of Valletta gave a review as well as an outlook of the local market and on the performance of the Wignacourt Malta Fund. Mr Pace Ross also addressed the convergence of the Maltese lira and euro benchmark yield curves when adoption of the euro took place on 1 January.

He referred to the MSE Market Capitalisation, which now includes 17 companies, thus giving investors a wider choice of investments. Mr Pace Ross concluded by giving a detailed account of the underlying assets that form part of the Wignacourt Malta Fund Portfolio.

Following Mr Pace Ross’ presentation, Grace Debono, Sales and Marketing Executive at Valletta Fund Management, gave a detailed review of the three Wignacourt Funds. Ms Debono said “The three core attributes of the Wignacourt Malta Fund’s major holdings are the issuers which are widely recognised, and are also the leaders in the marketplace with a high quality management team.”

She added that this year the company has extended its investment options by launching another two funds namely the Wignacourt Capital Guaranteed Commodity Fund, launched in January, and the Wignacourt Capital Guaranteed AquaEnery Fund, which was launched in July.

Ms Debono concluded that it is of utmost importance that in the present market conditions, one has to diversify his/her assets in order to minimise risk, identify the financial goals and in this regard seek advice to allocate the portfolio according to his/her risk tolerance.