HSBC Maltese Assets Fund (Acc)

General Information

Fund Type: Open-ended
Domicile of Fund: Malta
Launch Date: 14 December 1998
Launch Price: €2.33 per share
Base Currency: EUR
Manager: HSBC Fund Management Ltd., Malta
Dealing Days: Daily
Year End: 30 April
Min. Initial Investment: €1,000 (Accumulator Shares)€10,482 (Income Shares)
Regular Savings Facility: Minimum of €90 per month
Min. Addit. Investment: NONE
Up Front Charge: NONE
Dividends: In the Accumulator Shares, there are no dividend payments and income is accumulated within the Fund. In the Income Shares, dividends are distributed every 3 months.
Exit Fee: These are no exit fees for a maximum of three transactions per year. Thereafter a charge is applicable per transaction.
Annual Management Fee: 1.3%
Date of AGM: August

Investment Objective

The Maltese Assets Fund aims to achieve a reasonable return in the form of capital gains, which will result from the accumulated income, realised and unrealised capital gains, achieved by investing in a diversified portfolio of equity holdings and of interest-earning assets. It is intended that the bulk of these assets shall consist of Maltese equities listed on the Malta Stock Exchange.

Spread of Investments (as at 30 April 2011)

Local Equities: 56.25%
Malta Government Stocks: 20.58%
Foreign Government Stocks: 1.07%
Treasury Bills: 0%
Local Corporate Bonds: 11.55%
Foreign Corporate Bonds: 1.14%
Exchange traded Funds: 7.86%
Cash and Accruals: 1.55%

Top 3 Holdings (as at 30 April 2011)

Security: % of Total Assets
HSBC Bank Malta plc: 15.49
Bank of Valletta plc: 11.19
International Hotel Investments plc: 6.35