Issue link: https://maltatoday.uberflip.com/i/791658
44 Events maltatoday, SUNDAY, 26 FEBRUARY 2017 Grant Thornton to offer mentorship services at Malta's very own StartUp Weekend Malta's biggest 'experiential' startup event will be taking place at the end of next week when entrepreneurs and aspir- ing entrepreneurs will find out if their start-up ideas are viable and get the full start-up experi- ence themselves. The 54-hour event will bring together Malta's designers, de- velopers, entrepreneurs, and experts from all domains where they will have the possibility to pitch their ideas, put their talents in practise, and pos- sibly also obtain the necessary financing to fuel their projects. Grant Thornton will also be present at StartUp Weekend, acting as mentors to the par- ticipating teams. The firm's role will be that of guiding the teams to build strong founda- tions for a solid start-up, assist them with solving initial chal- lenges, help them determine the feasibility of the project and produce a robust business plan. On confirmation of the firm's role at StartUp Weekend, George Vella, Grant Thorn- ton Partner for Transaction Advisory Services, stated that time and time again, mentors or coaches are one of the most valuable features of such initia- tives. "The one-on-one advice given to teams can be invalu- able and a key factor in their growth as a start-up. As mentors we enjoy work- ing with teams because it's a chance to share our knowledge and help other aspiring entre- preneurs. We believe that a good take-off for a business - as well as sustaining it in the long term - requires looking at many different aspects of the busi- ness simultaneously. Financial measures, opera- tional efficiency, new ways of working and stakeholder re- lationships all must grow to- gether if dynamic start-ups are to fully achieve their objectives and unlock their potential to grow. Grant Thornton can help with this, making it as smooth and risk-free a process as pos- sible." In the past four years, since Startup Weekends started be- ing organised in Malta, 60-plus startup teams have been formed and more than 300 entrepre- neurs have been inspired. 2017 will see the event being organised in collaboration with MITA's Innovation Hub, which is offering a pre-seed invest- ment and pro-bono services of €22,000 to up to five start-ups with the best business idea based on digital technologies. United Group celebrates its 90th anniversary New high income and a global equity income fund from Merill Sicav The United Group of Compa- nies is celebrating the 90th anni- versary from when Carmelo Gatt Baldacchino set up a small trans- portation company in 1926. His son Charles took over the business and in started offering chauffeur driven services to the NATO mission in Malta. Dur- ing the swift development of the tourism industry in the 60s, he expanded into the tourism sectors and established long-term busi- ness relations with major tour op- erators and entered the car rental sector acquiring the Hertz fran- chise in 1961. Later in the 1980's Charles con- tinued diversifying the compa- ny by entering the automotive sector by acquiring the Opel and Saab agencies for Malta. Today the Group has grown in stature and brand equity and has flourished and expanded into oth- er exciting sectors. The organisa- tion today has investments within the automotive, vehicle rental and lease, retail and real estate sectors. Edmund and Simon Gatt Bal- dacchino , Executive Directors of United Group said that the com- pany still cherished and embraced the entrepreneurial guiding prin- ciples instilled by their father. "Maintaining the same family values and through proper gov- ernance and competent leader- ship and management, we ensure that our investments are based on a long term view and in knowl- edge that all that is done is finan- cially viable and doable." The company said it was proud of its long association of over 55 years with Hertz, making it the oldest Hertz franchisee in Europe. "We have also maintained a strong leadership in the automo- tive business by teaming up with other partners to establish Motors Inc. Limited into a multi-brand dealership retailing leading auto- motive brands such as Kia, Opel, Fiat, Iveco, Hyundai, Jeep and Alfa Romeo." Over the last decade the group has further diversified and estab- lished itself as leader in the retail sector representing Debenhams, MAC cosmetics and other fashion brands. "We have entered the real es- tate sector and teamed up with other entrepreneurs to develop Pendergardens in St Julian's, one of Malta's finest residential and commercial developments," they said. "We are confident that in the coming years we will continue to grow in strength by maintaining excellent relations with our prin- cipals and business partners. We cherish our relationship with our people at different levels of the organization structure. Custom- ers are our reason for being in business and we will continue to understand their needs to deliver a promise of value and quality. The above ingredients will ensure that we deliver a strong organiza- tion for the next generation." Following the successful launch of the Merill SICAV plc and its first sub-fund – the Merill To- tal Return Income Fund which has now reached €22.4 million in assets under management – the company is about to introduce two new sub-funds: the Merill High Income Fund and the Mer- ill Global Equity Income Fund. The Merill High Income Fund aims to provide a high overall yield with the potential for capi- tal growth. The fund may invest all its assets in rated and unrated fixed income securities located any where in the world and may invest up to 60 per cent of the as- sets in units of collective invest- ment schemes and exchange traded funds. The High Income Fund may invest to a limited extent in equities, and products which qualif y as transferable securi- ties, but which are packaged around a number of under- lying securities from which they derive their value. The fund may invest in emerging markets although it will focus on developed markets. On the other hand, the main aim of the Merill Global Equi- ty Income Fund is to achieve capital growth and income from a diversified portfolio of investments. The sub-fund will invest primarily in equity of companies spread across the globe and up to 60 per cent of the assets under man- agement could be invested in units of collective investment schemes and exchange traded funds. The Fund Manager has absolute discretion to decide the invest- ment type, geographical area, economic sector or issuer of in- vestments, subject to applica- ble restrictions. The fund may also invest, to a limited extent, in bonds and products which qualify as transferable securities. These are packaged around a number of underlying securities, from which they derive their value. The Fund will distribute any in- come generated from the portfolio on a quarterly basis, however it is important to keep in mind that this is subject to the discretion of the directors, who will decide whether to distribute such income or part of it. Any undistributed in- come will be reinvested back into the fund. Both funds will be priced and will trade daily and are suitable as a medium to long term investment. Income will be paid on a quar- terly basis. Investors can opt for a minimum lump sum investment of €2,500 or as a regular savings plan. Jesmond Mizzi, a director of Mer- ill Sicav plc, stated that "the funds are aimed at those investors who want to spread their investments in a diversified portfolio of various underlying assets including global high yield, investment grade bonds, international and local shares." Mizzi also emphasised that it is important for investors to appreciate that these two new funds incorporate a full range of investment products, which allow the funds to earn income from alternative sources of in- vestments which is passed on to the investors on a quarterly basis. Now more than ever in- vestors need to diversify into different asset classes to gener- ate income but also to protect and enhance their capital. As an introductory offer, all investors may benefit from substantially reduced initial fees to purchase these two new Merill Funds. These initial fees are discounted to 1.25% for all applications received until 15 March.