Net Asset value of Wignacourt Malta Fund increases by 2.7%
Since its launch up to May 31, 2012, the Wignacourt Malta Fund’s Net Asset Value has reflected an increase of 2.27% and outperformed the MSE Index over the same period.
Grace Debono from Valletta Fund Management (VFM) said this during a presentation she made about the fund at the 12th Annual General Meeting (AGM).
As at 28 September 2012, the company held €32 million in assets under management, an increase of 5.18% over the assets held as at January 31, 2012.
The Wignacourt Fund SICAV p.l.c. is licensed as a Collective Investment Scheme by the Malta Financial Services Authority and holds three sub-funds. One sub-fund invests locally whilst the two other sub-funds invest in commodities and alternative energy.
Grace Debono mentioned the importance of the underlying stock selection process and the expertise of the fund manager. “Active management involves the on-going research and meetings with local companies’ representatives which the fund manager and the research team conduct in order to obtain further insight into each company’s operations”, she said. She also delivered a detailed overview of the commodities market and its impact on the performance of the Wignacourt Capital Guaranteed Commodity Fund, and the energy saving markets and their impact on the returns and overall performance of the Wignacourt Capital Guaranteed AquaEnergy Fund.
In his presentation on the local market, David Pace Ross from Bank of Valletta stated that Malta’s economic performance remains resilient despite the downside pressures caused by the economic crisis in Europe. He explained that between June 2011 and May 2012, the four major companies listed on the Malta Stock Exchange, being HSBC Bank Malta, Bank of Valletta, International Hotel Investments and Malta International Airport all experienced growth in their overall business performance.