 25-31 October 2000 |
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Focus on negotiating: Interests, value and the art of the best deal Managers should negotiate to create value, as well as claim it Vilhena Funds AGM "Assets under management in the Vilhena Funds SICAV plc. have increased by an impressive 42% from Lm36.19 million as at 30 June 1999 to Lm5l.58 million as at 30 June 2000. The number of shareholders has tipped the 3,500 mark." Chairman Dr Remigio Zammit Pace announced during Vilhena Funds’ Annual General Meeting. FEXCO Investment Services launched amid expanding industry FEXCO Investment Services (Malta) Limited was recently launched. The company has been licensed to conduct Investment Services business by the Malta Financial Services Centre. At a reception Finance Minister John Dalli welcomed this new initiative by FEXCO Investment Services (Malta) Limited. |
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FEXCO Investment Services launched amid expanding industry FEXCO Investment Services (Malta) Limited was recently launched. The company has been licensed to conduct Investment Services business by the Malta Financial Services Centre. At a reception Finance Minister John Dalli welcomed this new initiative by FEXCO Investment Services (Malta) Limited. The minister commented, "Financial services are seen by Malta as a major sector of economic activity in this field. Our regulatory framework shows that we are not a tax haven of the type which is being targeted by the OECD, but a centre for financial services that projects its reputability as one of its major benefits." The minister added "The new funds will increase the public's options for investing in reputable financial institutions and I welcome this development as a sign of economic vitality and a clear indication of faith in our future as a financial centre". Initially, FISML will be distributing two distinct groups of umbrella collective investment schemes. The umbrella schemes are the CICM International Investments PLC and the CB Global Sector Funds PLC. The CICM International Investments PLC, consist of twenty individual sub-funds that invest in distinct countries and locations. The locations cover most of the European countries along with the leading international and emerging markets. The CB Global Sector Funds PLC consist of seven individual sub-funds that invest in different sectors of industry. These sectors include finance, information technology, telecommunications, lifestyle, healthcare, energy/resources and travel/transportation. Stephan Kempf, Vice President, Head of Fund Products, Commerz International Capital Management in Frankfurt said, "Commerzbank and in particular it's Asset Management and Commerz International Capital Markets is delighted to have it's funds distributed by FEXCO Investment Services in the Maltese market." He also complimented the Malta Financial Services Centre for the manner in which it is handling the regulatory environment in Malta. Mr Kempf added that CICM had almost GBP300 billion under management, a figure that continues to grow. "Malta has been a great location for the FEXCO Group" said Pa Nolan, Director, FEXCO Group, Dublin. FEXCO as a niche player in the financial industry continues to add new products to its portfolio. The company is involved in stockbroking in Ireland and Australia. Rather than setting up another stockbroker in Malta, it was decided to look at the collective investment business. "Commerz International Capital Markets is a quality brand" said Mr Nolan, "the variety and performance of the funds also inspires confidence. Access to the funds is open to everyone with a minimum investment of Lm500." | ||||||
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The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07 | Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075
Editor: Saviour Balzan
e-mail: [email protected]