For the second quarter of the financial year that began on 1 October, Valletta Fund Management (VFM) Limited organised its sales seminar for Bank of Valletta sales personnel licensed to promote and sell the VFM range of investment funds.
The event, which took place at the Corinthia St George’s Bay, addressed various aspects related to the local and international financial markets with particular emphasis on VFM’s investment solutions aimed to provide investors with periodic income streams.
Opening the seminar, Mark Agius, the newly appointed head of VFM, analysed the performance of the business during the first three months of 2012 and briefed those present with the strategy being adopted.
For the seminar, VFM invited to Malta Alison Arthurs, a fixed income product specialist at Insight Investment Global Management Limited who currently acts as sub-investment manager to VFM’s international income focused investment solutions which assets under management exceeded €145 million as at 30 March 2012. Ms Arthurs delivered a presentation on the performance and outlook of the international bond market as well as an in-depth analysis on the performance of VFM’s income focused funds, including the high yield market, and shared her viewpoint related to the future global economic growth.
Ms Arthurs concluded by stating that, “The stock selection process is an extremely important part of the investment process and this is carried out by Insight’s research team where the research specialists delve in great detail when analysing a particular company, sector or a market.”
On the other hand, Steve Ellul, Investment Analyst and David Pace Ross, Senior Manager at Bank of Valletta’s Capital Market & Institutions Unit, spoke about the domestic market particularly focusing on local bond market.
In the process, Mr Ellul, provided details of the portfolio strategy being adopted by the advisers within the context of the expected outlook of the domestic fixed income market pertinent to the local income funds managed by VFM.
Mr Pace Ross emphasised the main highlights of the various companies listed on the Malta Stock Exchange and provided the audience with an outlook of the local market.
Mark Vella, Head of Business Development at VFM reviewed the performance of the international markets for the period under review January to March 2012. He commented that “Equity markets got off to a new start in the New Year and investors are all enjoying the profitability”. He added: “The US stocks have registered a gain of two per cent during the first quarter of 2012, thus making the US market the top performer from being the worst performer prior to this period. In the emerging markets, India and Russia were the best performers whilst China’s GDP growth rate has slowed during the first quarter of 2012”.
Grace Debono Senior Manager Business Development and Edith O’Connor Marketing Manager at VFM delivered further information on the range of VFM’s funds.
In the closing address, Kenneth Farrugia, Bank of Valletta’s Chief Officer for Fund Business, noted that such seminars act as an important communication platform between VFM and Bank of Valletta’s sales force which is being utilised to provide them with the latest key developments shaping the international capital markets such that this information is thereon extended to the clients seeking to invest in such markets.