HSBC launches Maltese Money Market Fund

The Maltese Money Market Fund is the latest investment opportunity from HSBC Fund Management (Malta) Limited. The fund seeks to provide in an attractive return when compared to money market rates, and should appeal to those looking for a safe, attractive, tax efficient, short-term vehicle for their money.

It will invest in short-term bank deposits, Treasury Bills and other money market instruments.

The fund's base currency is Maltese liri and the initial minimum investment is Lm2,500. The fund will not have initial and exit fees (up to three redemption requests per calendar year are free. Subsequently, redemptions in any one calendar year will be subject to a flat fee of Lm10) and management fees are very low.

Charles Azzopardi, managing director of HSBC Fund Management (Malta) Ltd, said: "This fund offers our clients a high degree of liquidity and flexibility that individuals often seek in investments. This investment opportunity can be very beneficial to people who are looking for short-term, yet rewarding investments, as well as to other investors wishing to park their money in safe haven investments when capital markets tend to be volatile or unsettled."

The estimated net return of the fund is anticipated to be in the region of 3.5 per cent and will vary depending on movements in the Central Bank of Malta intervention rate.

A copy of the fund prospectus and term sheet are available from HSBC Fund Management (Malta) Ltd and from all HSBC branches. They may also be obtained by visiting hsbc.com.mt or by calling Customer Service on 2380-2380.