Malta Privatisation and Equity Fund

General Information

Fund Type: Open-ended
Domicile of Fund: Malta
Launch Date: 15 December 1999
Launch Price: €2.33 per share
Base Currency: EUR
Manager: Valletta Fund Management Ltd., Malta
Dealing Days: Daily. Shares are acquired at offer price and redeemed at the bid price.
Year End: 31 July
Min. Initial Investment: €2,333
Savings Facility: €40 per month
Up Front Charge: 3%
Performance: 25% of the return made by the fund in any one financial year in excess of 7% per annum.
Annual Management Fee: 1.25%
Date of AGM: December

Investment Objective

To maximise the total return to investors over the longer term by investment in Maltese equity securities, principally by taking advantage of IPO’s of companies currently owned or controlled by the Govt. of Malta and/or private investors as well as by investment in Maltese equity securities of companies that have been the subject of an IPO and whose equity securities are available for purchase.

Top 3 Holdings (as at 31 July 2008)

Security: % of Total Assets
GlobalCapital plc: 22.20
Lombard Bank Malta plc: 21.16
Middlesea Insurance plc: 10.99