Wignacourt Funds worth €32.92 million

The net asset value of Wignacourt Funds Sicav plc for the year ended May 31, 2009 stood at over €32.92 million, which represents an increase of 11.47 per cent over that registered a year earlier, which stood at €29.53 million.

This was announced during the ninth annual general meeting of the company held at the Corinthia San Ġorġ Hotel, St Julians, where the directors presented the annual report and audited financial statements.

Following the AGM, two presentations were delivered to those present. During the first presentation, David Pace Ross from Bank of Valletta gave a review, as well as an outlook, of the local market and on the performance of the Wignacourt Malta Fund. Mr Pace Ross commented that although turbulent times were witnessed during the financial year under review, where all major economies have been pushed into a deep recession, the local market held particularly well in view of the strength of the local banking sector that withstood the crisis. Grace Debono, sales and marketing executive at Valletta Fund Management Limited gave a detailed review of the portfolio of the three Wignacourt Funds namely the Wignacourt Malta Fund, the Wignacourt Capital Guaranteed Commodity Fund and the Wignacourt Capital Guaranteed AquaEnergy Fund.

Ms Debono said that the Wignacourt Funds offer investors, diversification, accessibility and liquidity. Furthermore as regards the Wignacourt Capital Guaranteed AquaEnergy Fund, which fund size stood at €11.49 million as at May 31 2009, Ms Debono stated that the fund has distributed an income of six per cent as due on year one to its shareholders.