• NEW_ ITALIAN INNER BOND FUNDS 2017-04

Fondo dei Titoli di Stato maltesi

  • Obiettivi di investimento

    L’obiettivo del Comparto è di cercare di massimizzare il livello totale di rendimento per gli investitori attraverso investimenti, in primo luogo, in titoli di debito e strumenti del mercato monetario emessi o garantiti dal governo di Malta.

    Struttura

    Il Comparto fa parte del Fondo CCFunds Sicav plc ed è amministrato secondo la struttura dell’OICVM, che è divenuta lo standard per i fondi di investimento nell’UE, per gli investitori al dettaglio. I fondi OICVM sono ideali per gli investitori al dettaglio, poiché sono stati progettati appositamente per garantire diversificazione e liquidità attraverso specifici parametri, consentendo classi di attività e restrizioni agli investimenti secondo quanto stabilito dal diritto comunitario.

    Gestione

    Il Fondo dei Titoli di Stato maltesi è gestito da un gruppo di esperti in materia di investimenti al servizio di Calamatta Cuschieri Investment Management Limited, e che monitorano gli sviluppi del mercato su base giornaliera.

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
→ Altre informazioni

Commentary

October 2019 Commentary

The recent news of a partial deal conditioned core government yields across the globe. The trigger of a risk-on mode pushed investors to shift from safer havens to the more risky asset classes. This was reflected in the movement in yields with the UST 10-year moving from the 1.64 levels to 1.74 levels as at the end of October. Likewise, the upward moves were also reflected in Europe with the German 10-year Bund moving from the -0.57 percent to the -0.41 percent levels- moves reflecting a positive sentiment surrounding an easiness in geo-political tensions.

The CC Malta Government bond fund continued to outperform its comparable benchmark namely due to the positioning of the fund’s duration. Given the recent upward movements in yields, the Manager opted in maintaining higher levels of cash to protect the fund’s year-to-date returns.

Going forward, the Investment Manager will continue to monitor the current monetary developments, while also being mindful of the prolonged global tensions and their impact on yields.

Factsheet

  • NAV/Price: Latest Price available here

    Sub-Fund Name Malta Government Bond Fund
    Investment Manager Calamatta Cuschieri Investment Management Ltd
    Fund Type UCITS
    Custodian Sparkasse Bank Malta p.l.c.
    Fund Administrator CC Fund Services (Malta) Limited.
    Auditors Deloitte Malta
    Legal Advisors Ganado Advocates
    Launch Date 21st April 2017
    Domicile Malta
    Dealing Frequency Daily
    Initial Charge from 0% up to 2.5%
    Management Fee 0.5%
    Currency Euro (€)
    ISIN numbers EUR - MT7000017992
    Minimum Initial Investment EUR 2,500
    Minimum Additional Investment EUR 500
    Fund Size €17.45 M
    Number of Holdings 32

    Top By Country*

    Country %
    Malta 97.5
    Spain 0.4
    Portugal 0.4
    France 0.3
    Belgium 0.3
    Slovenia 0.2
    Ireland 0.2
    Hungary 0.1
    Poland 0.1
    Turkey 0.1

    *including exposures to CIS and Cash

    Maturity Buckets*

    Age %
    0 – 5 years 9.5
    5 – 10 years 26.9
    10 years+ 43.7

    *based on the Next Call Date

    Performance History

    Calendar Year Performance  YTD 1-month 3-month 6-month Since
    Inception*
    Share Class A- Total Return 9.85 -0.83 1.40 6.72 9.60
    Rolling 12 month performance to last
    month end
    31/10/18 31/10/19 n/a   n/a n/a   n/a n/a   n/a
    Share Class A- Total Return 11.34 n/a n/a n/a

    *The Accumulator Share Class (Class A) was launched on 21 April 2017

  • Regional Allocation*

    Allocation %
    Malta 97.8
    Europe (excl. Malta) 2.1
    Other 0.1

    *including exposures to CIS

    * Malta exposure includes Cash Holdings

    Top 10 Exposures %

    Exposure %
    4.50% MGS 2028 10.7
    5.25% MGS 2030 6.1
    4.10% MGS 2034 6.0
    2.5% MGS 2036 5.1
    2.3% MGS 2029 4.9
    4.45% MGS 2032 4.9
    4.30% MGS 2033 4.8
    5.20% MGS 2031 4.8
    1.40% MGS 2024 4.7
    5.10% MGS 2029 4.5

    By Issuer*

    Issuer %
    Government of Malta 78.7
    Kingdom of Spain 0.5
    Government of Portugal 0.4
    Lyxor EuroMTS 3-5y IG ETF 0.3
    Kingdom of Belgium 0.3
    Republic of Slovenia 0.2
    Republic of Ireland 0.2
    Government of Hungary 0.1
    Republic of Turkey 0.1
    Republic of Poland 0.1

    *including exposures to CIS

    Performance ad Oggi

    Currency Allocation

    Currency %
    EUR 99.7
    Others 0.3

    Asset Allocation

    Currency %
    Cash 19.2
    Bonds 80.5
    CIS/ETFs 0.3

Informazioni Legali

This document has been issued by Calamatta Cuschieri Investment Management Limited (“CCIM”). CCFunds Sicav plc 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.

Approved and issued by Calamatta Cuschieri Investment Management Limited, Ewropa Business Centre, Triq Dun Karm, B’Kara, Malta, BKR 9034. Company registration number C53094. Additional information can be found at www.cc.com.mt