Fund asset value over Lm11m

Wignacourt Funds SICAV has held its second annual general meeting at the Hilton, Malta.

The directors presented the shareholders with the annual report and financial statements of the company for the year ending May 31, 2002 which included an informative report showing a net asset value for the Wignacourt Malta Fund of over Lm11 million.

Vincent E. Rizzo, from Rizzo, Farrugia & Co. (Stockbrokers) Ltd, said that Wignacourt Malta Fund's major equity exposures as at May 31, 2002 were in Bank of Valletta plc (19.95 per cent), HSBC Bank Malta plc (18.92 per cent) and Maltacom plc (17.07 per cent).

All three companies have been reporting very satisfactory financial results throughout the period, suggesting that when investor confidence towards equities improved and investors start buying programmess, their share prices were likely to recover strongly.