Bond fund goes over Lm100m

The HSBC's Malta Government Bond Fund exceeded the Lm100 million mark on July 4, the bank said yesterday, calling it a historic high.

"It is by far the largest local fund in terms of net asset value," HSBC fund management (Malta) Ltd managing director Charles Azzopardi said.

"Reaching such a milestone is a tribute to our investors, who have all along shown confidence in the fund, and to our investment management team who have, over the years, managed this fund in an active and consistent manner".

To celebrate and recognize this achievement, HSBC Fund Management (Malta) Limited rewarded the customer whose investment tipped the Lm100 million mark with a three-night holiday for two in Rome or Paris.

The prize was won by Paul and Carmen Scerri, who collected their voucher from the HSBC branch in Victoria.

The Malta Government Bond Fund has no initial fees and an investor can effect up to three redemptions per calendar year free of charge. It also offers a choice of growth and income shares as well as a regular savings facility.

The fund, which invests in a diversified portfolio of Maltese and international sovereign bonds, recorded an increase in its unit price of 4.2 per cent over the last 12 months which ended on June 30 and an annualised net return of five per cent since its launch.

More information on the fund is available on 2380 2380 or from any HSBC Bank Malta p.l.c. branch.