12 October 2005

The Web
Business Today

VFM reports significant interest in new property fund

Significant interest has been expressed in the launch of the new La Valette Multi Manager Property Fund according to the general manager at VFM, Kenneth Farrugia.
“We are satisfied that, through this new investment product, we are pioneering by filling a gap in the market that had previously not been serviced. Indeed, the new Property Fund shows our commitment to be supportive to our customers by providing added value through new and innovative investment products,” said Farrugia when asked to comment on the market reaction to this new investment product.
Farrugia explained how Valletta Fund Management, with the assistance of its London-based investment manager, Insight Investment, is using its specialized expertise in the area of fund management and administration to provide the BOV Group with a competitive advantage in this important sector. “Recognising the various needs of investors, Valletta Fund Management has launched an extensive range of domestic and international investment funds providing income and growth opportunities across the world's capital markets,” said Farrugia.
Through this newly launched Fund, the BOV Group is now providing investors with the opportunity to gain access to the real estate property market, a very popular asset class, thereby giving investors the opportunity to further diversify their portfolios and the potential to take advantage of the returns that the real estate property market has to offer.
“Whilst acquiring real estate property for investment purposes is typically not an option available for the private investor due to the large capital outlay required, the La Valette Multi Manager Property Fund allows investors to pool their money and gain exposure to a diversified portfolio of real estate properties, including commercial properties let to a wide range of companies, some of which are household names.,” explained Farrugia.
The La Valette Multi Manager Property Fund aims to provide investors with income and the potential for capital growth over the long term. This will be achieved by investing primarily in other real estate property funds that are primarily invested in UK and/or European real estate property and/or in securities linked to UK and/or European real estate property. Excluding funds that invest, whether directly or indirectly, in real estate property located in the Maltese Islands, the Fund may also invest in funds that invest, directly or indirectly, in real estate property situated in markets other than in the UK or Europe.
“This Fund is tailored for those Experienced Investors wanting to avail themselves of the opportunities that the real estate property market offers. Experienced Investors are considered as persons having the expertise, experience and knowledge to be in a position to make their own investment decisions and understand the risks involved,” concluded Farrugia.
The La Valette Multi Manager Property Fund is a distributor Fund and aims to distribute income twice a year. During the launch offer period, which ends on Thursday 20th October, investors may benefit from a reduction in the initial fee.
Further details about the La Valette Multi Manager Property Fund as well as a copy of the Fund’s Prospectus can be obtained from Valletta Fund Management and from any Bank of Valletta Branch as well as licensed financial intermediaries.

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