 25-31 October 2000 |
 |
 |
          |
EURO INFO Feature E-government finding its place in the IT revolution Opinion The benefits of standardisation Prof. Josef Bonnici, Minister for Economic Services, recently addressed a seminar titled ‘The Benefits of Standardisation to Industry' in which the minister lays out the current role of the Malta Standardisation Authority and its anticipated evolution In Focus: 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. |
 |
|
Valletta Fund Management inaugurates new premises, chairman speaks of listed Funds successes In its fifth year of operation, Valletta Fund Management Limited, a subsidiary of Bank of Valletta Group, recently inaugurated its new premises at The Mall Offices in Floriana. The need for new premises was due to a substantial increase in new business opportunities as well as Valletta Fund Management's commitment to provide a one stop shop quality service. The new premises were inaugurated by the Prime Minister, Dr Eddie Fenech Adami, Bank of Valletta Group Chairman Mr Joseph FX Zahra and Mr Paul Manduca, Chief Executive Officer of Rothschild Asset Management and director of Valletta Fund Management Limited Addressing the guests at the inauguration ceremony, Mr Zahra stated that "Valletta Fund Management has today become one of the most successful enterprises within the Bank of Valletta Group. The results and successes that have been achieved by this subsidiary in such a short span of time are overwhelming. In fact, the company boasts of US$450 million worth of funds under management and a shareholders' base of over 27,000. Furthermore in a period of just five years it has launched eighteen different investment funds, which fall under five different SICAVs. The excellent performance of Valletta Fund Management demonstrates its drive, dynamism and foresight to meet the challenges and opportunities of the future. These new premises will serve to sustain Valletta Fund Management's tradition of providing high quality customer service and increased business for the Company." Speaking about Valletta Fund Management's internationalisation process, Mr Zahra added that, "the next stage of development is for Valletta Fund Management to enhance the internationalisation process of its business. It is actively seeking opportunities in foreign countries, particularly in the Mediterranean region to offer its administration function to companies wanting to set up their investment funds in Malta. Valletta Fund Management has already significant experience in fund administration and is in fact currently administering third party funds for both foreign and local institutions." In his address, Mr Paul Manduca said that, "In 1995, Bank of Valletta and Rothschild Asset Management shared a vision for Malta to have its own domestic fund management industry. Valletta Fund Management has translated that vision into reality." Mr Manduca added that "Valletta Fund Management wants to play a leading role in the development of fund management in the Mediterranean area. Our success will benefit our investors, our shareholders and Malta itself." Valletta Fund Management was set up on the 6th June 1995 and is the result of a strategic alliance between Bank of Valletta Group and Rothschild Asset Management a member of the Rothschild Group, one of the world's leading independent merchant banking and asset management organisations with over US$40 billion under management. Over the past five years, Valletta Fund Management Limited has set up an investment process that combines teamwork, discipline and tenacity that has helped it build an impressive performance track record across a broad range of investment funds. Products range from funds investing in the international equity market to funds focusing on the local capital market. | |||||||
| ||||||||||
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]