Distributore Malta Income Fund Euro

INVESTMENT OBJECTIVES

The objective of the sub-fund is to attempt to maximize the total return return for investors through investments, mainly in debt securities and money market instruments issued or guaranteed by the Government of Malta, and issued shares and corporate bonds and listed on the Malta Stock Exchange.

STRUCTURE

The Sub-Fund is part of the Calamatta Cuschieri Sicav plc Fund and 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 specifically to guarantee diversification and liquidity through specific parameters, allowing classes of assets and investment restrictions in accordance with EU law.

MANAGEMENT

The Distributor Malta Income Fund Euro fund is managed by a group of investment experts serving Calamatta Cuschieri Investment Management Limited, and who monitor market developments on a daily basis.

KEY FEATURES OF THE BOTTOM

The Fund aims to maximize total return for investors by investing at least 85% of the sub-fund’s assets in debt securities and money market instruments issued by the Government of Malta as well as in shares and corporate bonds issued and listed on the Malta Stock Exchange . 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 and / or suitable collective investment schemes non-Maltese assets ”which include 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 not target debt securities of a particular duration, coupon or credit rating. At all times, the Investment Manager will maintain an exposure of at least 25% to the equities listed on the Malta Stock Exchange and will 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.

Panoramica

→ Profilo dell’Investitore

→ Valute Disponibili

→ Pagamento dei dividendi

→ Monitoraggio e prezzi

→ Commissione di entrata e di uscita

→ Investimento minimo

→ Vademecum sulla gestione dei Fondi

Nel cercare di raggiungere il proprio obiettivo, il sotto-fondo può anche investire direttamente (o indirettamente attraverso fondi negoziati in borsa idonei e / o programmi di investimento collettivo idonei) fino al 15% del patrimonio netto del sotto-fondo in:

(i) Titoli di debito idonei e / o strumenti del mercato monetario emessi o garantiti da governi di Stati membri dell’UE, del SEE e dell’OCSE diversi da Malta, dai loro Stati costituenti o dalle loro autorità locali; e / o

(ii) Titoli di debito idonei e / o strumenti del mercato monetario emessi o garantiti da organismi sovranazionali di Stati membri dell’UE, del SEE e dell’OCSE diversi da Malta, dalle loro agenzie, istituzioni finanziarie associate o altri organismi associati,

(iii) Titoli azionari internazionali idonei, senza particolare propensione alla capitalizzazione di mercato e alla posizione geografica di tali titoli; e

(iv) Titoli di debito internazionali idonei.

Il Gestore degli Investimenti può investire fino al 10% del patrimonio netto del sotto-fondo in attività maltesi e / o non maltesi non quotate.
Per quanto riguarda il segmento “Attività non maltesi” del sotto-fondo, il Gestore degli Investimenti non punterà ad alcun titolo di debito internazionale di una determinata durata o cedola. Tuttavia, il sotto-fondo non è generalmente tenuto a detenere investimenti che, al momento dell’investimento, sono classificati al di sotto di “B3” da Moody o al di sotto di “B-” da S&P o in obbligazioni ritenute di qualità comparabile dal Gestore degli investimenti.

Il Gestore degli Investimenti non avrà come obiettivo alcun titolo di debito locale (titoli di debito e strumenti del mercato monetario emessi o garantiti dal Governo di Malta e / o obbligazioni societarie locali emesse e quotate presso la Borsa di Malta) di una determinata durata o cedola.

Il Gestore degli Investimenti manterrà, in qualsiasi momento, un’esposizione a titoli azionari locali emessi e quotati presso la Borsa Valori di Malta e il Mercato regolamentato di Malta di almeno il 25% del valore del patrimonio netto del sotto-fondo. Inoltre, il Gestore degli Investimenti manterrà, in qualsiasi momento, un’esposizione diretta ai titoli di debito locali (titoli di debito e strumenti del mercato monetario emessi o garantiti dal Governo di Malta e / o obbligazioni societarie locali emesse e quotate alla Borsa di Malta). di almeno il 25% del valore del patrimonio netto del sotto-fondo.

Il sotto-fondo può inoltre investire in depositi a termine detenuti presso istituti di credito regolamentati a Malta e in altri Stati membri dell’UE, del SEE e dell’OCSE.

Questo sotto-fondo non investirà, nell’insieme, più del 10% del patrimonio netto del sotto-fondo in quote o azioni di altri OICVM o altri CSI.

→ Altre informazioni

Commentary

April 2020 Commentary

In April, the Malta Balanced Income Fund increased by 2.58%, getting back some of the losses of the month of March when volatility was high given the risks brought about by Covid-19 to the local economy. The Investment Managers took advantage of the weakness in prices to continue to build on positions, which remain attractive. The exposure to equities increased slightly by 1% as the Investment Managers bought the dip on names with strong balance sheets and attractive business models. Cash was invested in stable companies, which could generate potential capital gains.

As at the end of April, the fund had a 53 percent exposure to bonds, 37 percent exposure to equities and 10 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 once we 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.

Important Information This document has been issued by Calamatta Cuschieri Investment Management Limited (“CCIM”). CC Funds SICAV p.l.c. is licensed by the Malta Financial Services Authority. CCIM is licensed to conduct Investment Services in Malta by the Malta Financial Services Authority. This document is prepared for information purposes only and should not be interpreted as investment advice. It does not constitute an offer or invitation by CCIM to any person to buy or sell any investment. Any investment should be based on the full details contained in the Prospectus, Key Investor Information Document (KIID) and any Offering Supplement thereto available from www.cc.com.mt. No person should act upon any recommendation in this document without first obtaining professional investment advice. Security values may go up as well as down and past performance is not necessarily indicative of future performance, nor a reliable guide to future performance. Currency fluctuations may affect the value of investments and any income derived. This document may not be reproduced either in whole, or in part, without the written permission of CCIM. CCIM does not accept liability for any actions, proceedings, costs, demands, expenses, loss or damage arising from the use of all or part of this document.

FactSheet

NAV/Price: Latest Price available here

Sub-Fund Name	Malta Income Fund – Class B (Distribution) 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	€14.91 M
Number of Holdings	57
Initial Charge	up to 2.50%
Management Fee	0.80%
Dividend Payment Dates	30 April – 31 October
ISIN numbers	MT7000022281
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 B- Total Return	-3.84	2.58	-4.16	-5.10	-2.70	-0.29
Rolling 12 month performance to last month end	30/04/19 30/04/20	n/a n/a	n/a n/a	n/a n/a	n/a n/a
Share Class B- Total Return	-3.78	n/a	n/a	n/a	n/a

* The Distributor Share Class (Class B) was launched on 10 April 2018.

** Performance figures are calculated using the Value Added Monthly Index “VAMI” principle. The VAMI calculates the
total return gained by an investor from reinvestment of any dividends and additional interest gained through compounding.

Sector Allocation *

Sector	%
Consumer, Cyclical	51.6
Communications	8.8
Industrial	8.1
Financial	5.9
Consumer, Non-Cyclical	2.8
Government	2.7
Diversified	1.8

*excluding exposures to CIS

By Issuer *

Issuer	%
PG plc	8.8
RS2 Software plc	3.8
GO plc	3.5
Tigne Mall plc	3.3
IHI plc	3.0
SD Finance plc	2.9
Stivala Gr Finance plc	2.8
Bortex Gr Finance plc	2.8
Government of Malta	2.7
HSBC Bank Malta plc	2.7

* including exposures to CIS, excluding Cash

Top 10 Exposures %

Exposure	%
PG Plc	8.8
RS2 Software	3.8
GO plc	3.5
Tigne Mall plc	3.3
Harvest Technology plc	3.1
4.35% SD Finance 2027	2.9
HSBC Bank Malta plc	2.7
4% Stivala Gr Finance 202	2.7
3.75% Bortex Gr Finance 2027	2.7
4% Eden Finance 2027	2.7

Top 10 by Country *

Country	%
Malta	100.0
Other	n/a

*including exposures to CIS and Cash

Currency Allocation

Currency	%
EUR	100.0
Others	0.0

Asset Allocation

Asset	%
Cash	9.8
Bonds	53.21
Equities	37.1

Maturity Buckets*

Age	%
0 – 5 years	1.2
5 – 10 years	46.0
10 years+	3.8

*based on the Next Call Date

Informazioni Legali

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.

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