Issue link: https://maltatoday.uberflip.com/i/1181032
31.10.19 5 NEWS MERILL SICAV p.l.c. has reached €100 million in assets under management as a new sub-fund, the Merill Strategic Balanced Fund (USD) – with seed mon- ey of $10 million – was launched. As the investment manager of Merill funds, Jesmond Mizzi Financial Advi- sors Ltd has achieved another milestone in the history of the company. is target was set by Jesmond Mizzi, in April of 2018, who stated that it was the company's aim to hit this figure with- in the next eighteen months. On 4 Octo- ber 2019 Merill SICAV p.l.c. launched a new sub-fund, Merill Strategic Balanced Fund USD 'Accumulator' Share Class. is newly launched USD denominat- ed sub-fund aims to invest predominant- ly in US assets, however, is not restricted to being exposed to this geographical region. e objective of the sub-fund is to achieve long term growth from a diver- sified portfolio of investments. e majority of the sub-fund's invest- ment will be dollar denominated, but the investment manager is permitted to enter into other currencies if opportu- nities arise. at being said the invest- ment manager will be able to make use of derivatives in order to reduce the sub- fund's credit, currency or even interest rate risks. Merill SICAV p.l.c. launched its first sub-fund in 2016, the Merill Total Re- turn Income Fund with an initial seed capital of €15 million. Two additional sub-funds were later launched in 2017, the Merill Global Equity Income Fund and the Merill High Income Fund, as well as a Sterling Hedged Share Class of the latter sub-fund which was launched in March 2019. Merill funds witnessed steady growth throughout the years and the full range of four sub-funds now boast total assets under management exceeding €100 mil- lion. Jesmond Mizzi, Managing Director of Jesmond Mizzi Financial Advisors said he was pleased to have achieved this milestone in just over three years. "As we continue to actively manage Merill SICAV p.l.c. to see it grow and flourish, we constantly seek to explore new avenues of diversification which is key for us," he said. "We are once again extending our product range to enable both our existing and prospective clients to diversify their investment portfolios on an international level." Earlier this year Merill Total Return Income Fund achieved a four star rating from Morningstar Inc. is sub-fund continued to perform strongly and ranked first quartile in 2017, 2018 and year-to-date, as at the end of September. is rating helps investors assess this fund's track record compared to other similar funds. €100 million mark exceeded as new Merill Strategic Balance Fund is launched LUFTHANSA Technik Malta will be in- vesting 25 million euro to expand its fa- cility in Malta after signing an agreement with Malta Industrial Parks Ltd (MIP) for the allocation of 21,000 square metres of land adjacent to its existing hangars. rough this investment, the compa- ny – which is one of the global leaders within the aviation maintenance, repair and overhaul (MRO) industry – will be building another hangar in which it will be able to service a wide-bodied aircraft and a narrow-bodied aircraft together at any one time. e expansion testifies Lufthansa Tech- nik's confidence in the local workforce as well as in the economy and particularly in the local aviation industry, as it will be further consolidating its presence in Malta and in so doing generate more high quality jobs. "With this investment Lufthansa Technik continues its success story and engagement in Malta. e envisaged operation of up to 40 years is a strong commitment to the island, its economy and its workforce. We are proud to be able to expand our footprint and with this the significance of Lufthansa Tech- nik Malta in the worldwide Lufthansa group by servicing the most state of the art aircraft for the future along with high technology and increased skill sets", said Marcus Motschenbacher, Lufthansa Technik Malta CEO, when commenting about the expansion. "We are glad to be supporting Lufthansa Technik's expansion plans, which fit seamlessly within Government's and our vision and commitment towards the avi- ation sector. is investment ties in per- fectly with other work MIP is currently involved in, such as the development of an Airport Zone Strategy Plan to facili- tate further growth within the sector, the improvement of efficiencies, and the cre- ation of new niches within the aviation industry," added Karl Azzopardi, CEO at Malta Industrial Parks. e investment is also being facilitated by Malta Enterprise through the support it provides companies to set up and grow in Malta. "Malta is proud to have Lufthansa Technik operating from Malta and com- mitting its future with such an important long-term investment. e country's success is not only in retaining reputa- ble international companies, but also in convincing such brands to shift new, value adding operations to their Malta outpost," Malta Enterprise CEO Kurt Farrugia said. "While supporting established oper- ations in facing existing challenges and expanding here, Malta Enterprise is also committed to continue attracting oper- ators that support the strong aviation cluster. Together with Malta Industrial Parks we are committed to continue de- veloping infrastructure that can propel Malta's future in this industry." Lufthansa Technik Malta to invest €25m investment in new hangar Lufthansa Technik Malta CEO Marcus Motschenbacher (centre) with Karl Azzopardi, CEO at Malta Industrial Parks (left), and Malta Enterprise CEO Kurt Farrugia