7 - 13 March 2001

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Collective investment schemes over 2000 worry financial advisors

There was little reason to be happy with the performance over 2000 of collective investment schemes. Table 1 indicates the performance of some major opportunities funds.

The worst case scenarios were those dealing with the Far East, the American and Euro funds.

Indeed, many financial advisors are wary over what exactly to promote in view of the rather disappointing results seen in 2000.

The worst examples appear to have been the Far East Opportunities Fund, managed by VFM, with a loss of 26.95 per cent and the Asian Opportunity Class managed by HSBC.

Better but moderate results were seen with traditional low risk funds such as the Sterling Money Fund, with a 2.16 per cent change, managed by VFM and the UK Sterling Bond class with a percentage change of 3.82 and managed by HSBC.

The Maltese market fared much better.

Simond Farsons Cisk rose from 66c in January 2000 to 99c in December 2000.

And a very good performance indeed was registered for Middle Sea Insurance with a starting price of Lm3.30 in January and ending with Lm3.81 in December.

Others such as Maltacom showed marginal increases of 10 per cent and Lombard Bank 7.68 per cent. This of course had a bearing on other funds, such as VFM managed Vilhena Funds, here the Malta Fund registered a growth of 2.59 per cent and with the HSBC managed Tri-Med Malta Accumulator fund, the growth registered was 3.82 per cent.

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt