VFM increases funds under management

Valletta Fund Management (VFM) had over €692.1 million (Lm297.1 million) of funds under management at the end of 2007, an increase of 1.28 per cent or €8.7 million (Lm3.7 million) over the total amount of funds under management as at September 30, 2007. With a total of over 47,000 active accounts as at end December 2007, this places VFM at the forefront of Malta's fund management business, according to VFM general manager Peter Perotti.

Mr Perotti, who was addressing Bank of Valletta sales staff at a recent seminar, also said that the range of euro-denominated investment funds had been very successful.

"The VFM euro funds are already extremely popular with investors with over €195.5 million invested across these funds as at December 31, 2007."

These seminars are organised by VFM on a quarterly basis to keep the BOV licensed sales personnel abreast of the development in the local and international markets as well as on the performance of VFM's range of funds.