Barclays list 24 funds on Malta Stock Exchange
by Anthony Manduca
Barclays International Funds have listed 24 funds on the Malta Stock Exchange. Barclays had already listed two of their most popular funds, the Barclays Sterling Bond Fund and the Barclays International Bond Fund on the local exchange some years ago, one of which was a primary listing.
Secondary listings have now been granted to three different share classes, namely, Barclays International Funds SICAV, Barclays Investment Funds (Luxembourg) and Barclays Euro Funds SICAV.
These listings have the approval by the Malta Financial Services Centre.
Global Financial Stockbrokers acted as sponsoring stockbrokers for the listing of Barclays International Funds. Jesmond Mizzi, director of investment and sales at Globe Financial Management, the exclusive distributor for Barclays funds in Malta, told The Malta Business Weekly: "As a result of these listings, the Maltese investor has access to a wide range of collective investment funds designed to meet the needs of the international investor and being exempt from capital gains tax. With a choice of cash, bond and equity funds, the range provides access to investment in funds covering single countries, regions and global markets.
"Over the years, Barclays International Funds has gained a reputation for consistent investment performances with funds managed by expert investment managers using three distinct investment styles: index tracking (a relatively new concept for the local market), active management and advanced active management."
Barclays International Funds is part of the Barclays group, which today has become one of the biggest financial services groups in the United Kingdom with offices over 60 countries worldwide.
Barclays Global Investors, one of the managers of Barclays International Funds is the world's largest institutional investment manager with over US$787bn under management (as at 31 December, 1999) whereas Barclays Asset Management Europe is responsible for the investment of US13bn of assets across the European markets.
Mr Mizzi said: "Barclays believe that each investor's needs are unique and that versatility and choice should be fundamental to the Barclays International funds range. Barclays also recognise that investors seek to diversify their investment portfolio as much as possible so the management of Barclays Funds is not limited to one investment technique with only one investment philosophy but Barclays offers three different styles of investment management from expert investment managers.
"Active management gives investment managers the freedom to invest in securities which they believe are likely to outperform a chosen benchmark. Advanced active management is a unique investment process developed by Barclays Global Investments and is a systematic, risk and cost-controlled approach which aims to outperform benchmarks by replacing traditional investment management with scientific and technological methods.
"Index-tracking is a style of investment management which seeks to track the performance of a chosen index. Investment managers buy stock, with same properties as that stock is held in a particular index. In doing so, they aim to follow closely the performance of that index.'
The funds listed on the Malta Stock Exchange are:
Barclays International Funds SICAV:
(Sterling Reserve), (US Dollar) Reserve, European Bond, North American Bond, (US Dollar) Hedged Global Bond, European Equity, Japanese Equity, Pacific Rim Equity, United Kingdom Equity, United States Equity, Espana Renta Variable, BGI United Kingdom, Global Multinational Equity,
Barclays Investment Funds (Luxembourg):
European Equity Fund, North American Equity Fund, UK Equity Fund, International Equity Fund and Pacific Equity Fund,
Barclays Euro Funds:
Euro Blue Chip Fund, Euro Value Opportunity Fund, Euro Corporate Bond Fund 5-7, Euro Convertible Bond Fund, Euro Bond Fund and Euro Cash Fund
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