'Various lines of investigation' in MFSA probe of La Valette funds

The MFSA is following various lines of investigation as part of its inquiry into matters involving the La Valette Multi-Manager Property Fund, and while it would like to wrap up as soon as possible, it could not say when conclusions would be reached,...

The MFSA is following various lines of investigation as part of its inquiry into matters involving the La Valette Multi-Manager Property Fund, and while it would like to wrap up as soon as possible, it could not say when conclusions would be reached, Finance Minister Tonio Fenech has said in Parliament.

Replying to a parliamentary question said the Authority was considering all relevant information in order to take an informed decision on whether there had been a breach of licence conditions.

The investigation was launched in August.

Some 300 investors have filed judicial protests against Bank of Valletta and the directors of La Valette Multi-Manager Fund claiming mismanagement that led to substantial losses.

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