New La Valette fund launched

Valletta Fund Management Limited yesterday announced the launch of a new investment fund within the La Valette Funds SICAV range - the La Valette Monthly Income Fund.

The new fund is aimed at investors seeking to achieve a reasonable level of income, with the possibility of capital growth, through investment in a diversified portfolio consisting principally of debt securities of issuers based both in Malta or overseas.

At the launch, Valletta Fund Management Ltd chairman Joseph Zahra said the innovative fund was the first of its kind in Malta and complements VFM's range of conservative funds.

The La Valette Monthly Income Fund provides a diversified and professionally managed portfolio consisting principally of international investment grade bonds whose currency exposure essentially reflects the composition of the Maltese lira basket of currencies. As such it is ideal for those investors seeking to peg their portfolio to the lira.

The fund also meets the needs of those investors requiring frequent income flows since it will distribute its income on a monthly basis.

Investors may participate in the fund, which is denominated in the lira, from a minimum lump sum investment of Lm1,500.

In addition, until June 30, investors in the fund will benefit from a fixed price of Lm1 per share and a discounted upfront fee of 1.5 per cent instead of the standard three per cent.

Additional information on the La Valette Monthly Income Fund and a copy of the prospectus may be obtained by calling Valletta Fund Management Limited on freephone 80072344 or by visiting any BoV branch or licensed financial intermediary.