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Accumulatore Malta Income Fund Euro


    Stock and financial instruments issued by the Malta stock market Exchange.


    The Sub-Fund is part of the Calamatta Cuschieri The Sicav plc Fund is is administered according to the structure of the UCITS, which has become the standard for investment funds in the EU, for retail investors. The UCITS funds are ideal for retail investors, since they have been designed to guarantee diversification and liquidity through specific parameters, allowing classes of assets and investment restrictions.


    The Distributor Malta Income Fund Euro Fund is managed by a group of investment experts serving.


    Funds for debt securities and money market instruments issued by the Government of Malta . In pursuing this objective, the Investment Manager will have to allocate up to 15% of its assets in Maltese Shares, Maltese Bonds and invest up to 15% of its assets directly or indirectly through eligible exchanged funds Maltese assets “which includes debt securities and / or money market instruments issued or guaranteed by governments of EU, EEA and OECD Member States other than Malta.The Investment Manager will target debt securities of a particular duration, coupon or credit rating. At all times, the Investment Manager will maintain an exposure to at least 25% of the Malta Stock Exchange and maintain at least 25% of direct exposure to Maltese Bonds, ie Malta Governemnt and / or local corporate bonds issued and listed on the Malta Stock Exchange.


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September 2020 Commentary

In September, the Malta Balanced Income Fund decreased by -0.49%. The spike in Covid-19 cases in Malta has resulted in an increase in risk aversion attitude in the month of September, as some investors sold their positions in various sectors. Nonetheless, the Investment Managers took advantage of the weakness in prices to continue to build on positions, which in their view remain attractive. The exposure to equities remained unchanged for the month as the Investment Managers continued to focus on names with strong balance sheets and attractive business models. Cash was deployed in stable companies, which could generate potential capital gains.
As at the end of September, the fund had a 56 percent exposure to bonds, 35 percent exposure to equities and 9 percent exposure to cash. The cash position will give the IMs an opportunity to strength those positions which they believe will generate alpha to the fund’s performance.
The IMs are confident that as business come out of this difficult situation brought about by Covid-19, the selected local companies will continue to benefit and will continue to strive to capture this positivity and translate it in gains for shareholders. The IMs plan is to continue adding to the current allocations should markets permit.


  • NAV/Price: Latest Price available here

    Sub-Fund Name Malta Income Fund – Class A (Accumulation) Investor Shares – EUR
    Investment Manager Calamatta Cuschieri Investment Management Ltd
    Fund Advisor N/A
    Custodian Sparkasse Bank Malta p.l.c.
    Fund Administrator CC Fund Services (Malta) Limited
    Auditors Deloitte Malta
    Legal Advisors Ganado Advocates
    Launch Date 10/04/2018
    Domicile Malta
    Currency Euro (€)
    Dealing Frequency Daily
    Fund Size  €16.09 M
    Number of Holdings 60
    Initial Charge up to 2.50%
    Management Fee 0.80%
    Dividend Payment Dates N/A
    ISIN numbers MT7000022273
    Minimum Initial Investment € 2,500
    Minimum Additional Investment € 500

    Performance ad Oggi *

    Performance History

    Calendar Year Performance  YTD 1-month 3-month 6-month 12- month Since Inception*
    Share Class A- Total Return -4.28 -0.49 -2.50 2.11 -5.80 -0.75
    Rolling 12 month performance to last month end 30/09/19 30/09/20 28/09/18   30/09/19 n/a   n/a n/a   n/a n/a   n/a
    Share Class A- Total Return -5.80 5.06  n/a n/a n/a

    * The Accumulator Share Class (Class A) was launched on 10 April 2018.

    Sector Allocation *

    Sector %
    Consumer, Cyclical 49.9
    Communications 10.0
    Industrial 7.3
    Financial 6.9
    Consumer, Non-Cyclical 2.7
    Government 2.5
    Diversified 1.7

    *excluding exposures to CIS

  • By Issuer *

    Issuer %
    PG plc 8.2
    RS2 Software plc 4.6
    Stivala Gr Finance plc 3.0
    Tigne Mall plc 2.9
    Eden Finance 2.8
    IHI plc 2.8
    SD Finance plc 2.7
    GO plc 2.7
    Government of Malta 2.5
    HSBC Bank Malta plc 2.3

    * including exposures to CIS, excluding Cash

    Top 10 Exposures %

    Exposure %
    PG Plc 8.2
    RS2 Software plc 4.6
    Ishares Euro Corp Large Cap 3.8
    4% Stivala Gr Finance 20207 2.9
    Tigne Mall 2.9
    Harvest Technology plc 2.8
    4% Eden Finance 2027 2.8
    GO plc 2.7
    4.35% SD Finance 2027 2.7
    BMIT Technologies 2.7

    Top 10 by Country *

    Country %
    Malta 96.2
    Other n/a

    *including exposures to CIS and Cash

    Currency Allocation

    Currency %
    EUR 100.0
    Others 0.0

    Asset Allocation

    Asset %
    Cash 9.0
    Bonds 56.1
    Equities 34.9

    Maturity Buckets*

    Age %
    0 – 5 years 1.0
    5 – 10 years 47.7
    10 years+ 3.5

    *based on the Next Call Date


Questo documento è stato pubblicato da Calamatta Cuschieri Investment Services Ltd (“CCIS”). CC è un membro fondatore della Borsa di Malta ed è stato autorizzato a svolgere servizi di investimento mobiliare a Malta, dall’autorità finanziaria del governo di Malta. Questo documento è stato redatto per puro scopo informativo e non deve essere interpretato come una consulenza finanziaria. Questo documento non costituisce un’offerta o un invito, da parte di CC, rivolto a qualsiasi persona a comprare o vedere alcun strumento finanziario. CC ha stilato questo documento basandosi sulle informazioni ottenute da risorse che si ritiene siano affidabili, ma sulle quali non è stata compiuta una verifica personale. Questo documento non può essere riprodotto ne per intero ne in parte, senza un’autorizzazione scritta da parte di CC.