VFM hosts La Valette Funds SICAV AGM

Valletta Fund Management Limited hosted the 11th annual general meeting for the shareholders of the La Valette Funds SICAV plc at the Grand Masters Suite, Hilton Malta.

During the meeting, held last month, Peter Perotti, VFM general manager, announced that La Valette Funds SICAV plc shareholders' funds as at September 30, 2006, stood at GBP278.20 million, an increase of 22.37% from that registered as at September 30, 2005.

He also announced that as at January 31, 2007, the combined fund size of the La Valette Funds SICAV increased to just above £284.5 million.

The introduction of a varied range of funds over this 11-year period have placed the La Valette Funds SICAV as one of the local investment companies that provides investors with a broad range of investment solutions across the main asset classes, namely cash, bonds, equities as well as real estate property through its range of 18 sub-funds.

The success of the La Valette Funds SICAV is reflected in the sizes of the company's funds, as well as the increasing number of shareholder accounts, which exceeds 24,000 as at January 31, 2007.

VFM has built a successful track record in managing investment funds, and today provides investors with a comprehensive range of domestic and international investment solutions with different risk profiles, designed to meet the various financial needs of investors, be it income, capital growth or a combination of both.

During the AGM the directors presented the shareholders with the company's annual report and financial statements for the year ending September 30, 2006, which included an informative market report. During the meeting, the members present approved all the resolutions on the agenda.

The AGM was followed by two presentations. David Pace Ross, on behalf of Bank of Valletta plc, as the sub-investment manager to the La Valette Malta Fund and La Valette Malta Bond Fund, delivered a presentation on the review and the outlook of the local market.

Mark Vella, head of marketing at VFM, provided a review and outlook of the major international capital markets and, consequently, the La Valette Funds' performance throughout the year ending September 30, 2006.

Mr Vella also provided details on the wide range of euro-denominated products that VFM has to offer Maltese investors as the country gears itself to the adoption of the single European currency next January.