17 - 23 February 2000

VFM launches Wignacourt Malta Fund

by Franco Aloisio

Valletta Fund Management (VFM) yesterday launched its 13th fund, the Wignacourt Malta Fund. The fund, which will be made available to investors from 6 March, is a professionally packaged investment opportunity for investors seeking to maximise their level of return through investment in Malta's capital market.

VFM chairman Joseph F.X Zahra said the new fund will be investing in a selection of shares of existing Maltese companies and is positioned to invest in shares of new companies that are expected to become available over the coming years.

Charles Borg, general manager of VFM, said the Wignacourt Malta Fund complements the 12 existing investment funds. The fund is aimed at investors seeking to take part in the investment opportunities of Malta's capital market.

Investors will benefit from professional investment management, undertaken by VFM and advised by the foreign partners, Rothschild Asset Management.

VFM, a subsidiary of Bank of Valletta, manages funds worth Lm180m. VFM has 20,000 shareholders.

Mr Borg said that VFM has embarked on an internationalisation project through which the company will be managing foreign third party funds. Investment in the Wignacourt Malta Fund starts from a low minimum of Lm1,000 or from a savings plan of Lm25 per month subject to a lump sum investment of Lm250. During the launch offer period and up to 17 March 2000, shares in the Wignacourt Malta Fund will be sold at a fixed price of Lm1 per share.

Up to 30 March 2000, the initial charges will be reduced by 50 per cent, from 3 per cent to 1.5 per cent. More information is available from any BOV branch or financial intermediary. The Wignacourt Malta Fund was named after the Wignacourt Aquaducts in Santa Venera, which BOV is restoring as part of its project of setting up new processing offices in the former Capri Sun factory site.

As a symbolic representation of this new fund, VFM chose a bronze sculpture, Rhythmi Vitae (rhythm of life) by eminent Maltese sculptor Antonio Sciortino.