Melita International Funds SICAV six-monthly report

Despite the negative global market environment, Melita International Funds SICAV has performed well in the half-year ended March 31, the fund manager said in its interim report and financial statements, released last week.

The Melita International Turkish Opportunities fund, denominated in US dollars, rose by 54% and the Melita International Turkish Opportunities fund, denominated in Maltese liri, rose by 49%.

The Melita International Technology funds also increased in value with the net asset value of the US$-denominated fund rising by 15% and the net asset value of the Lm-denominated fund rising by 18%.

Other funds performing well over the period were the Melita International China Opportunities Fund (US$/Lm) and the Melita International Latin American Opportunities fund (US$/Lm).

Overall, all funds increased in value with the exception of Melita Bond (S$/Lm) which registered a minimal decrease.

Melita International Funds SICAV consists of 12 sub-funds, six denominated in Maltese liri and the other six denominated in US dollars. Of these 12 sub-funds, eight are feeder funds feeding directly into the corresponding funds of Aberdeen International Funds plc, an Irish-incorporated investment company. The remaining four are funds of funds which invest in a number of collective investment schemes.

The interim report provides a detailed analysis on Melita funds' performance, as well as a snapshot of the portfolio of each of the funds as at March 31. The manager's report gives an international market overview and includes the investment adviser's view on the direction of the market.

The report also highlights the investment advisers' active fund management and the changes to the portfolios of the funds that have been effected over the six-month period.

Melita International Funds SICAV plc is licensed by the Malta Financial Services Centre.