La Valette Multi Manager Property Fund exceeds €60 million

Valletta Fund Management Limited last week announced that the La Valette Multi Manager Property Fund, which offers investors the opportunity to invest primarily in the UK and/or European real estate property market, has as at January 3 exceeded €60 million in fund size.

The La Valette Multi Manager Property Fund is proving to be particularly attractive to experienced investors as it aims to deliver consistent income as well as potential for long-term capital growth, at lower volatility levels than that associated with equities and bonds.

For the period from launch on September 13, 2005, to last January 3, the fund registered an annualised return of 11.53 per cent.

This growth can be attributed to the benefits that the multi manager concept has to offer, that is, diversification across a variety of property funds managed by specialist fund managers.

In effect, as at January 3, the fund's portfolio was comprised of nine property funds that primarily invest in the UK and/or European commercial real estate property markets, and to a limited extent in the Asian property market.

Commenting on the fund's strong performance, Peter Perotti, general manager of Valletta Fund Management Ltd, said: "The success achieved by the La Valette Multi Manager Property Fund has by far exceeded our expectations, both in terms of the significant investments in this fund and more so in terms of the performance that the fund has delivered so far to its investors.

"The fund's success confirms that investors have understood and are taking advantage of the benefits of a multi manager investment. The growth in fund size shows that investors are also fully aware and confident in the expertise of the multi manager team at Insight Investment (Global) Limited."

Toby Hayes of Insight Investment Management (Global) Ltd, who is fund manager of the La Valette Multi Manager Property Fund, will be visiting Malta later this month to carry out a series of meetings with Bank of Valletta branch personnel and other licensed intermediaries.

The La Valette Multi Manager Property Fund is structured as a professional investor fund, denominated in euro and aims to distribute income twice yearly. This means that investors may benefit from income streams derived from regular contractual commitments in the form of rent, generally under the terms of long-term leases with normally upward only rent reviews.

The launch of the La Valette Multi Manager Property Fund in September 2005, then a first of its kind in Malta, strengthens Valletta Fund Management Limited's position in introducing innovative investment solutions.