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Global Funds SICAV have reported positive performances for its funds during their recent Annual General Meeting, with Chairman Anthony C. Azzopardi and Michel Said from Globe Fund Advisors Ltd providing shareholders with an overview of the performance of the SICAV’s six funds. They also delivered an interesting analysis of the international capital markets.
Going over the year’s results, Azzopardi explained how assets under management increased from Lm14.2 million as at 31 July 2003, to Lm15.6 million as 31 July 2004. Particular reference was made to the performance of the Malta Privatisation and Equity Fund, which increased by 23.28 per cent during the year under review.
Overview of the funds
The Global Bond Fund Plus, which is denominated in Maltese Lira, invests in a diverse portfolio of interest-sensitive securities such as Bond Funds, local and international Bonds. Although the fund is predominantly invests in interest-sensitive securities, it also has a limited exposure to local and foreign equities. Shareholders who require income may opt to receive income every six months - January and July of each year.
In response to the privatisation drive that the Maltese Government initiated in the late nineties the Malta Privatisation & Equity Fund was launched in 1999. Its objective is to invest in local equity, which is quoted on the Malta Stock Exchange and in local Initial Public Offerings (IPOs). The local market has, of late, become an interesting investment opportunity against a backdrop of low interest rates and strong dividend yields. Renewed privatisation activity and the prospect of pension reforms are expected to leave their mark on the local Stock Exchange. Investors in the Malta Privatisation & Equity Fund are therefore well placed to benefit from a further upsurge in the local market.
On the other hand, the Melita International Equity Fund and the Melita International Bond Fund are two other investment vehicles, within the Global Funds SICAV family offered in US Dollars. They provide investors with an opportunity to tap into international equity and bond markets, without the need to convert their US Dollar holdings into Maltese Lira. The current weakness in the US Dollar could potentially be a further attraction for investors looking to invest in either equity or bond fund investments. Adventurous investors may, alternatively, select from two specialised feeder funds such as the Aberdeen (Malta) Technology Fund and the Aberdeen (Malta) China Opportunities Fund which are also available in US Dollars.
The management and administration of the Global Funds SICAV plc is entrusted to Valletta Fund Management Ltd which forms part of the Bank of Valletta plc Group. Globe Fund Advisors Ltd, a subsidiary of the Global Financial Services Group plc, is entrusted to provide investment advice to all the funds falling within the Global Funds SICAV plc.
Readers who would like to find out more about the funds within the Global Funds SICAV plc are invited to send an e-mail to info@globe.com.mt or to contact a Financial Planning Manager at Globe Financial Management Ltd on Freephone 80073131. Globe Financial Management Ltd is licensed to provide investment services by the MFSA. Funds within the Global Funds SICAV plc are licensed by the MFSA and listed on the Malta Stock Exchange.
The information provided does not constitute advice and readers should read through the prospectus of the fund and seek advice as to the suitability of any investment matter mentioned above. The past is not necessarily a guide for the future, and the value of investments, together with the currency in which they are invested, may fall as well as rise, and investors may not receive upon redemption the amount originally invested.
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