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maltatoday, WEDNESDAY, 13 SEPTEMBER 2017 12 Business Today Regular market closed – 12/09/2017 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change s BOV 13,800 29,049.25 9 2.110 2.100 2.105 2.105 0.005 t GO 15,700 56,145.67 4 3.599 3.570 3.590 3.570 -0.029 s HSB 10,000 19,300.00 1 1.930 1.930 1.930 1.930 0.005 t IHI 38,000 22,040.00 4 0.580 0.580 0.580 0.580 -0.021 t MDI 3,000 924.00 1 0.308 0.308 0.308 0.308 -0.002 s MIA 21,760 91,780.58 9 4.220 4.195 4.195 4.220 0.030 l MLT 11,500 8,480.50 4 0.749 0.730 0.730 0.749 0.000 t RS2 9,990 17,582.40 1 1.760 1.760 1.760 1.760 -0.015 s SFC 1,688 14,355.50 3 8.550 8.500 8.500 8.550 0.050 t TML 176,700 169,632.00 2 0.960 0.960 0.960 0.960 -0.015 t G18A 635,000 676,883.00 4 106.640 106.580 106.640 106.580 -0.040 t G20B 42,000 47,140.80 2 112.240 112.240 112.240 112.240 -0.050 t G21A 776 925.61 1 119.280 119.280 119.280 119.280 -0.110 t G28B 10,900 14,403.08 2 132.140 132.120 132.120 132.140 -0.430 t G29B 200,000 218,060.00 4 109.130 108.930 109.130 108.930 -0.140 t G34A 2,000 2,651.20 1 132.560 132.560 132.560 132.560 -0.200 t G39A 211,700 211,905.54 16 100.250 99.990 99.990 100.050 0.050 s G40A 15,600 17,979.00 2 115.250 115.250 115.250 115.250 -0.070 t G41A 45,500 47,442.85 1 104.270 104.270 104.270 104.270 0.050 s BV30A 111,700 110,283.00 4 99.000 98.500 98.500 99.000 0.010 s CB21A 20,500 21,931.95 2 106.990 106.980 106.980 106.990 0.490 s GC21A 2,000 1,980.00 1 99.000 99.000 99.000 99.000 -0.300 t HP25A 2,100 2,194.50 1 104.500 104.500 104.500 104.500 0.000 l PC26A 19,800 20,395.98 1 103.010 103.010 103.010 103.010 0.000 l PT24A 8,000 8,120.00 4 101.500 101.500 101.500 101.500 -2.200 t SD27A 14,000 14,420.00 1 103.000 103.000 103.000 103.000 0.000 l TI27A 20,300 21,010.50 3 103.500 103.500 103.500 103.500 -1.000 Market Summary as at 12/09/2017 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 88 Volume Traded ................................................................. 1,664,014 Value of € denominated securities .................................... 1,867,016.91 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... - Previous Index ................................................................. - Change in Index (%) ......................................................... - Bank of Valletta plc ........................ 2.100 0.00% Medserv plc .................................. 1.290 -3.37% FIMBank plc .................................. 0.750 0.00% Mapfre Middlesea plc .................... 1.880 0.00% GlobalCapital plc ........................... 0.400 0.00% MIDI plc ........................................ 0.310 0.00% GO plc ........................................... 3.599 0.00% Plaza Centres plc ........................... 1.050 0.00% Grand Harbour Marina plc ............. 0.894 0.00% RS2 Software plc............................ 1.775 0.00% HSBC Bank Malta plc ..................... 1.925 0.26% Simonds Farsons Cisk plc ............... 8.500 0.00% International Hotel Investments plc 0.601 0.00% Tigné Mall plc ................................ 0.975 0.00% Lombard Bank Malta plc ................ 2.200 0.00% Pefaco International plc ................. 2.240 0.00% Malita Investments plc ................... 0.749 -0.13% Santumas Shareholdings plc ......... 2.190 0.00% Malta International Airport plc ....... 4.190 -0.48% Malta Properties Company plc ........ 0.530 0.00% MaltaPost plc ................................. 1.980 0.00% PG plc ........................................... 1.400 0.00% MSE Index Understanding the basics There are many types of investments and investing styles to choose from. Mutual funds, ETFs, individual stocks and bonds, closed-end mutual funds, real estate, vari- ous alternative investments and owning all or part of a business are just a few exam- ples. Stocks Buying shares of stock represents ownership in the company and the opportunity to participate in the company's success via increases in the stock's price plus and dividends that the company might declare. Shareholders have a claim on the company's assets. Holders of common stock have voting rights at shareholders' meetings and the right to receive dividends if they are declared. Holders of preferred stock don't have voting rights, but do receive preference in terms of the payment of any dividends over common shareholders. They also have a higher claim on company assets than holders of common stock. Bonds Bonds are debt instruments whereby an investor effectively is loaning money to a company or agency (the issuer) in exchange for periodic interest payments plus the return of the bond's face amount when the bond matures. Bonds are issued by corporations, the federal government plus many states, municipalities and governmental agencies. A typical corporate bond might have a face value of $1,000 and pay interest semi- annually. Interest on these bonds are fully taxable, but interest on municipal bonds is exempt from federal taxes and may be exempt from state taxes for residents of the issuing state. Interest on Treasuries are taxed at the federal level only. Bonds can be purchased as new offerings or on the secondary market, just like stocks. A bond's value can rise and fall based on a number of factors, the most important being the direction of interest rates. Bond prices move inversely with the direction of interest rates. Mutual funds A mutual fund is a pooled investment vehicle managed by an investment manager that allows investors to have their money invested in stocks, bonds or other investment vehicles as stated in the fund's prospectus. Mutual funds are valued at the end of trading day and any transactions to buy or sell shares are executed after the market close as well. Mutual funds can passively track stock or bond market indexes such as the S&P 500, the Barclay's Aggregate Bond Index and many others. Other mutual funds are actively managed where the manager actively selects the stocks, bonds or other investments held by the fund. Actively managed mutual funds are generally more costly to own. A fund's underlying expenses serve to reduce the net investment returns to the mutual fund shareholders. Mutual funds can make distributions in the form of dividends, interest and capital gains. These distributions will be taxable if held in a non-retirement account. Selling a mutual fund can result in a gain or loss on the investment, just as with individual stocks or bonds. Mutual funds allow small investors to instantly buy diversified exposure to a number of investment holdings within the fund's investment objective. For instance, a foreign stock mutual might hold 50 or 100 or more different foreign stocks in the portfolio. An initial investment as low as $1,000 (or less in some cases) might allow an investor to own all the underlying holdings of the fund. Mutual funds are a great way for investors large and small to achieve a level of instant diversification. ETFs ETFs or exchange-traded funds are like mutual funds in many respects, but are traded on the stock exchange during the trading day just like shares of stock. Unlike mutual funds which are valued at the end of each trading day, ETFs are valued constantly while the markets are open. Many ETFs track passive market indexes like the S&P 500, the Barclay's Aggregate Bond Index, and the Russell 2000 index of small cap stocks and many others. In recent years, actively managed ETFs have come into being, as have so-called smart beta ETFs which create indexes based on "factors" such as quality, low volatility and momentum. Alternative investments Beyond stocks, bonds, mutual funds and ETFs, there are many other ways to invest. We will discuss a few of these here. Real estate investments can be made by buying a commercial or residential property directly. Real estate investment trusts (REITs) pool investor's money and purchase properties. REITS are traded like stocks. There are mutual funds and ETFs that invest in REITs as well. Hedge funds and private equity also fall into the category of alternative investments, although they are only open to those who meet the income and net worth requirements of being an accredited investor. Hedge funds may invest almost anywhere and may hold up better than conventional investment vehicles in turbulent markets. Private equity allows companies to raise capital without going public. There are also private real estate funds that offer shares to investors in a pool of properties. Often alternatives have restrictions in terms of how often investors can have access to their money. In recent years, alternative strategies have been introduced in mutual fund and ETF formats, allowing for lower minimum investments and great liquidity for investors. These vehicles are known as liquid alternatives. Types of investments