Insight Investment Management has agreed to sell 120,000 ordinary ‘A’ shares and 8,000 ordinary ‘B’ shares to Bank of Valletta, representing IIM’s 40 per cent shareholding in Valletta Fund Management Ltd. The shares were sold for €5 million and make the bank the sole shareholder of VFM. VFM currently manages in excess of €800 million in funds under management, providing investors with a comprehensive range of domestic and international investment funds investing in the main asset classes. As at end of July, VFM’s value of gross assets amounted to €3.2 million, while profits attributable to the assets which are the subject of the transaction amounted to €1.7 million.

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