A group of six Bank of Valletta employees recently returned from a two-day training programme at Insight Investment (Global) Management Limited, JO Hambro Investment Management and Bank of New York Mellon offices in London.
During their visit, the BOV employees attended various presentations by fund managers from Insight Investment (Global) Management Limited who are responsible for some of the La Valette Funds and Vilhena Multi Manager Funds managed by Valletta Fund Management Limited. Bonnie Adbul Aziz delivered a presentation from the fixed income team responsible for the La Valette Sterling Income Fund, La Valette Monthly Income Fund and La Valette Euro Income Fund. During her presentation Ms Abdul Aziz gave first hand information on the opportunities currently available in the corporate bond market as well as an in-depth analysis on the performance and asset allocation of the funds which aim to achieve a level of income*, with the possibility of capital growth and considered as an ideal investment vehicle for those looking for periodic income* streams.
Azhar Hussein gave an update in respect to the La Valette High Yield Fund which as at 29 February 2012 generated an income yield of 6.66 per cent. The fund aims to achieve a high level of income through investment in a diversified portfolio of securities consisting principally of debt instruments which are of a sub-investment grade credit rating.
Shantanu Tandon from the Multi Asset Team gave an update on the three regional Vilhena Multi Manager Funds as well as the Vilhena Absolute Return Funds. He also gave a clear explanation on the recent funds’ activity and asset allocation and emphasized that in the light of the prevailing challenging market conditions one can still find various investment opportunities which fit in the funds’ diversified portfolio. It is imperative however, he concluded, that before investing one has to ensure that the fund’s objective meets the investor’s financial goals.
On the last day, the group also had the opportunity to meet Jennifer Fisher, Fund Manager at JO Hambro Investment Management, responsible for the Vilhena Global Themed Fund. Ms Fisher gave a comprehensive explanation of the company’s global equity investment approach and their proven track record. She continued to explain the importance of the stock selection and investment process. She concluded that “The macro shocks of 2011 - US growth scare, Eurozone crisis and Chinese inflation - have not disappeared but appear to be improving and that valuations are attractive and profits appear to hold up much better than some expectations”.
During their meeting with Mark Mc Partlin and Caroline Keen from Bank of New York Mellon, who are responsible for the La Valette Far East Opportunities Fund, they stated: “We continue to invest in companies that stand to benefit from the long-term structural growth opportunities in the region and we remain cautious on the outlook for 2012”.
Finally, Matt Meritt from Insight wrapped the two-day training with an overview and outlook of the international markets.
This training programme was made possible thanks to BOV’s business partnership with Insight, a fully owned subsidiary of the Bank of New York Mellon Corporation. Valletta Fund Management Limited is a joint venture between BOV, with a 60 per cent shareholding in the company, and Insight (Global) Management Limited having a 40 per cent equity stake.