HSBC fund reaches Lm100 million milestone

HSBC's Malta Government Bond Fund has reached a remarkable milestone with funds exceeding Lm100 million last month.

HSBC Fund Management (Malta) Ltd's Charles Azzopardi said: "We are extremely proud that the size of this fund has reached such a historic high and it is by far the largest local fund in terms of net asset value".

"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," Mr Azzopardi added.

To celebrate and recognise this achievement, HSBC Fund Management rewarded the customer whose investment tipped the Lm100 million mark, a holiday for two, comprising flight and accommodation, for three nights in Rome or Paris.

Paul and Carmen Scerri visited the HSBC branch in Victoria to receive their Lm500 holiday voucher. They were delighted with the prize and appreciated HSBC's gesture.

The Malta Government Bond Fund has no initial fees and an investor can affect 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 past 12 months ended June 30 and an annualised net return of five per cent since its launch on December 23.

More information on HSBC's Malta Government Bond Fund is available by calling Customer Service on 2380-2380 or from any HSBC Bank Malta plc branch.