La Valette Sterling Income Fund

General Information

Fund Type: Open-ended
Domicile of Fund: Malta
Launch Date: 3 April 2002
Launch Price: £1 per share
Base Currency: Pound Sterling
Manager: Valletta Fund Management Ltd., Malta
Dealing Days: Daily
Year End: 30 September
Min. Initial Investment: £1,000
Regular Savings Facility: £30 per month
Min. Addit. Investment: None
Up Front Charge: 2%
Dividends: Quarterly (Feb, May, Aug, Nov)
Exit Fee: 0 to 3 years = 0.75%; 3 to 5 years = 0.50%; 5 to 7 years = 0.25%; +7 years = NIL
Annual Management Fee: 1%
Date of AGM: February

Investment Objective

The investment objective of the La Valette Sterling Income Fund is to aim to achieve a high level of income, with the possibility of capital growth, through investment in securities consisting principally of investment grade fixed and/or variable rate securities.

Spread of Investments (as at 30 September 2010)

‘AAA’ Rated Bonds: 13.24%
‘AA’ Rated Bonds: 4.22%
‘A’ Rated Bonds: 45.27%
‘BBB’ Rated Bonds: 30.29%
‘BB’ Rated Bonds: 1.12%
‘B’ Rated Bonds: 0.13%
‘C’ Rated Bonds: 0%
Bank Balances: 3.13%
Other Quoted Bonds: 2.60%

Top 3 Holdings (as at 30 September 2010)

Security: % of Total Assets
UK Treasury 5.00% 2025: 6.56%
Barclays Bank plc 10% 2021: 3.38%
Citigroup Inc. 7.625% 2018: 3.03%

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